With the pandemic sapping oil demand, the industry in Texas is debating an historic cut in output to help stabilize the market for crude
Texas regulators on Tuesday debated curtailing oil output in the state in response to cratering demand caused by the new coronavirus.
The virtual discussion by the Railroad Commission of Texas over whether to limit production—a step the state hasn’t taken since the 1970s—attracted numerous oil industry leaders, including the heads of shale producers Pioneer Natural Resources Co., Parsley Energy Inc. and Marathon Oil Corp.
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