Despite the sharp rise in international oil prices, oil companies in North Dakota, USA remain cautious about expanding drilling.

Regulators in North Dakota, USA stated that despite the sharp increase in international oil prices sparked by the Iran war, which significantly improved the short-term fundamentals of the industry, American oil operators in the state are still proceeding cautiously in reopening rigs and increasing production. Energy companies are currently in a wait-and-see mode to assess how long the current bull market peak can be sustained and whether it is enough to justify a new round of significant capital expenditures. Assistant Director Boerel of the Oil and Gas Department of the North Dakota Industrial Commission pointed out that the state's second largest oil producer, Continental Resources, voluntarily removed a rig earlier this year, but has recently quietly planned to redeploy the rig and resume drilling operations. He intriguingly added, "If the high international oil prices can hold up for a long enough time, other operators will likely not be able to resist and will start adding rigs sporadically in certain blocks." Meanwhile, major US-listed energy giants such as ConocoPhillips, EOG Resources, and Diamondback Energy are also reallocating resources to drill new wells or expand existing ones. However, it is understood that these giants' focus on increasing production is mainly anchored in the Permian Basin, aiming to maximize profits in the current high oil price environment.