(Williston, ND) -- Officials say they are optimistic about the oil industry in North Dakota in 2022.
Producers and executives in the industry say there is a lot of acreage left to develop, which is a good sign for the future. North Dakota Department of Mineral Resources Director Lynn Helms says concerns about shortages and high oil prices are very real.
Helms says underinvestment over the past 18 months could lead to low supply in a time of high demand, bumping prices up.
Consultants say President Biden's policies and a reliance on OPEC-plus remain challenges and concerns for North Dakota oil.