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AnonymousSince the beginning of 2012, the price differential between crude oil produced in the Bakken region of the Williston basin, located mostly in North Dakota, and West Texas Intermediate (WTI) crude oil varied as a result of transportation constraints. Rapidly growing production in the Bakken coupled with lagging takeaway infrastructure (pipelines and rail capacity) contributed to Bakken prices that were as much as $28 per barrel lower than WTI in early 2012.
Crude oil production in the Bakken grew from 274,000 barrels per day (bbl/d) in January 2011 to 673,000 bbl/d in January 2013, according to the North Dakota Department of Mineral Resources. However, new transportation infrastructure completed in the second half of 2012 helped ease the bottleneck in North Dakota and contributed to a narrowing of the price differential between Bakken and WTI.
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