Coronavirus in Texas: Oil regulators unlikely to curb production during Tuesday meeting

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The Central Texas Food Bank hosted a food drive last week at the Toney Burger Activity Center in Austin. Eddie Gaspar/The Texas Tribune

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.

“We have probably missed our opportunity to lead on this,” Texas Railroad Commissioner Ryan Sitton told Bloomberg TV on Monday.

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.