Texas Regulators Consider Limiting Oil Production Amid Pandemic

Regulators in Texas are considering cutting oil production as demand falls due to the COVID-19 pandemic. The Texas Railroad Commission held a virtual hearing to discuss the issue, hearing arguments for and against production cuts. Proponents believe cuts could prevent a market crash, while opponents argue companies will self-regulate. The oil industry is also affected by a Saudi-Russia dispute. The TRC has not yet made a decision.

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