North Dakota Treasury Benefits From Higher Oil Prices

BISMARCK, N.D. (AP) — Climbing U.S. oil prices that have motorists paying more at the gas pumps are adding to North Dakota’s bottom line.

The state’s oil production was up slightly in September, but prices for North Dakota crude were 32% higher than the state’s tax revenue forecast.

New data shows North Dakota produced 1.1 million barrels of oil per day in September, up 0.5% from August.

The state’s natural gas production was stronger, up 1.8% from the previous month.

U.S. oil prices have climbed in recent months to around $80 a barrel, hitting highs not seen since 2014.

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