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.
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