Texas oil and gas agency punts on production cuts

Texas oil and gas agency punts on production cuts

Even as oil prices continued to plummet, the Texas state agency that oversees the oil and gas industry on Tuesday held off on limiting oil production as a way to prop up struggling producers.Amid a global glut of oil, exacerbated by the COVID-19 crisis, which has led to a severe drop in demand, crude prices have nosedived to record lows — an important benchmark was running […]
Source: Statesman

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