Insight
OPEC++: will Texas join the production cuts?
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Recently, under pressure from current very low oil prices, two prominent Permian producers filed paperwork requesting the Texas Railroad Commission to consider production controls. To consider this request, the Railroad Commission held a 10-hour virtual hearing on 14 April 2020 to allow producers to voice opinions on resource waste and the request for pro-rationing. In this piece we highlight the most important arguments from either side of the issue. And what did the sceptics have to say?
Table of contents
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Executive summary
- The hearing made clear industry v iewpoints varygreatly:
- Why has the RRC reconvened 47 years after its most recent proration hearing?
- Summarising the argumentsmadeFOR pro-rationing
- Summarising the arguments made AGAINST pro-rationing
- The sceptics weigh in
- Conclusion
Tables and charts
This report includes the following images and tables:
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Top onshore Texas oil producers (operated volumes)
What's included
This report contains:
