US media update;
- state's daily oil output fell by as much as 60% relative to the start of April, due to a loss of electricity across the region and snowy roads making it impossible for trucks to reach energy infrastructure.
- North Dakota recently had been producing 1.1 million barrels of oil per day, a figure that he believed had already fallen 25% a week and a half earlier when another blizzard hit the state.
- North Dakota's oil industry was just starting to recover from that drop when the storm hit this past weekend and sent production plummeting again
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OIl dropped after the weekend but gained on Monday during US time. its adding to that rise as I update. Its been a push-pull affair between concerns over falling demand in China over COVID-19 restrictions and supply drops due to Russia sanctions. There are other factors, of course, there are always are, but they do seem the dominant concerns at present.
