Tuesday’s biggest developments:
- Texas oil regulators unlikely to curb production during Tuesday meeting
- Gov. Greg Abbott to provide coronavirus updates
Texas oil regulator says idea to cut production is likely “dead”
[6 a.m.] As demand for oil has plunged across the world, Texas oil regulators are not expected to impose cuts to production Tuesday, a move that has been discussed widely since the coronavirus began spreading in the United States.
The commission, which regulates the state’s huge oil and gas industry, is holding a public virtual meeting Tuesday, and Sitton said the process to potentially curb oil production in Texas — also called prorationing — has been “purely a political discussion.”
“I think proration is dead now,” Sitton said.