June 2020, Vol. 247, No. 6
Global News
Global News
Texas, Oklahoma Regulators Reject Production Curbs Regulatory agencies in Texas and Oklahoma both opted not to impose limits on crude oil production within their states despite a historic drop in prices and shrinking storage availability. The Oklahoma Corporation Commission took no action in May after hearing proposals to declare some oil production in the state as economic waste, or on an industry trade group’s recommended plan that included mandated output cuts. That hearing closely followed a Texas Railroad Commission decision not to mandate oil production cuts, ending a month-long debate about whether they would wade into global oil politics
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