Texas production has finally slowed, the Texas Alliance for Energy Producers said in a March report. It took more than 18 months, but this January, Texas producers extracted less crude than in the same month the prior year, TAEP reported. The Texas Petroleum Index sank 39.9% from January 2015 to 181.9 this January. The record TPI peak was 313.4 in November 2014. This recent descent marks the first time the TPI has dropped "below the lowest point of the previous industry economic cycle."
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