North Dakota Officials Predict Oil Prices Will Plummet

North Dakota's oil prices are expected to decline in the coming biennium, according to state budget officials. As of September 30, 2026, North Dakota oil was trading at around $91 a barrel.

The Office of Management and Budget forecasts that if the war with Iran is resolved, oil prices will plummet to approximately $62 by the end of this biennium.

Joe Morrisette, director of the North Dakota Office of Management and Budget, expressed uncertainty about how quickly prices would reach this level. He noted that the trajectory from $91 to $62 was 'really a question mark.'