| The slide in crude oil prices is continuing, and transforming Alaska’s state finances to revenue sources more predictable and sustainable than oil income has taken on more urgency. Year-to-date prices for North Slope crude oil were at an average of $49.98 per barrel as of Nov. 17. That’s since July 1, the start the current fiscal year, and it is $16 per barrel less than the price of $66.03 per barrel predicted by the state last March and used as the basis for budget planning.
Year-over-year production numbers are better, with an increase of about 3.7 percent since the start of the fiscal year through Nov. 15. Daily production in November is averaging about 555,000 barrels per day compared to about 537,000 barrels per day in November 2014...............................................Full Article: Source |