Value of monthly oil production in North Dakota through April 2018
Previously discussed the near-record level of oil production in the state during April. Here is the graph of average daily production since 2004:
What is the value of that oil? Multiply those average daily production levels by days in the month and then multiply by the following average sweet crude prices in the state:
That gives my calculation of the value of total monthly production:
If you like having gasoline available at any gas station in your community at the moment you want to get a tank filled, that is a really cool graph.