Northrim Bank Report: Alaskanomics.  Alaska’s oil production continued to decline in the State’s fiscal year 2011 that ended in June.  Statewide production averaged 608,000 barrels per day (bpd), falling 7% from 652,000 bpd in fiscal year 2010.  The peak production was over 2 million bpd in 1988 and has declined continuously over the last two decades.  Alaska dropped below the 1 million bpd mark in 2004. 

Oil production