Texas regulators dismiss oil proration measure

摘要

Texas regulators yesterday voted against a plan to cut crude production by 20pc, ending debate on the measure that was pushed by smaller producers but opposed by large companies. The three-member Texas Railroad Commission, the lead oil and gas regulator in the state, voted to dismiss a request by independents Pioneer Natural Resources and Parsley Energy, who had argued that proration is urgently needed to keep the industry afoat as eforts to contain the Covid-19 pandemic crush demand and send crude into rapidly flling storage.