Texas oil and gas regulators reject production cuts

Texas oil and gas regulators reject production cuts

Even as oil prices remain low, state regulators Tuesday dismissed a proposal to limit oil production as a way to prop up struggling producers.In a 2-1 vote, the Texas Railroad Commission rejected production cuts, which had been requested by some independent oil producers.”By allowing the free market to work, producers can determine for themselves what level of production is economical,” said Wayne Christian, chairman of the Texas Railroad Commission, the agency that […]
Source: Statesman

Leave a Reply

Your email address will not be published. Required fields are marked *

*

code