Cold temps bad news for oil production
Cold weather had returned to North Dakota, and that is putting a halt on oil production in the Bakken. Bakken crude is known to freeze into a plastic-like substance when temperatures drop below minus 40 degrees. The cold weather also upsets traffic flow and interrupts drilling operations, and had an influence from northern Alberta, Canada, down into Texas. Consequences of the cold weather have already pushed the price of Canadian crude to five-month highs. Read more from the Fargo Forum.