Texas regulator aims to wrangle oil output cuts from Saudis, Russia

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Jennifer Hiller | Reuters

OKLAHOMA ACTION SOUGHT

The Oklahoma Energy Producers Alliance this week urged the state’s energy regulator to take steps to curtail crude oil production as oil prices in the state fell below $20 a barrel.

The Alliance also asked regulators to “stop authorizing, permitting and approving the drilling of wells which result in ‘economic waste,’” according to a letter sent to the three commissioners for of the Oklahoma Corporation Commission.

John Kilduff, a partner at Again Capital in New York, said that Texas regulators could avoid the political hazard of ordering production cuts by enforcing natural-gas flaring rules already on the books, which the state has not done.