“Let Russia Reduce”: Texas Refuses to Reduce Oil Production


Due to imbalances between supply and demand on the world market, oil prices fell to record low in March-April this year. In this regard, the main oil producing countries adopted an agreement on April 12 to reduce the production of "black gold" by almost 10 million barrels per day.


However, not all world oil market players agree to such measures. So, according to National Public Radio, the head of the Texas Oil and Gas Association Todd Staples believes that the US government’s plans to reduce production could lead to an unintended reduction in production and cause large financial losses in the industry.

On May 5, the Texas State Railroad Commission (the state body that regulates the oil and gas industry - Ed.) Decided not to introduce a mandatory reduction in oil production - two out of three commission members spoke out against the reduction. The Texas commissioners unanimously agreed that other states would assume additional obligations - in particular, Russia and the OPEC countries. They, according to the Americans, should radically reduce the volume of oil produced.

Meanwhile, the crisis could worsen - dozens of oil-filled tankers from Saudi Arabia and other countries ply off the coast of the United States, and very soon there will be no room to store additional volumes of fuel.
  • Photos used: https://pixabay.com
7 comments
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  1. Sergey Latyshev Offline Sergey Latyshev
    Sergey Latyshev (Serge) 6 May 2020 10: 29
    -3
    Love yourself, sneeze at all .... Do what is beneficial to them ....
  2. 123 Offline 123
    123 (123) 6 May 2020 10: 39
    +6
    The Texas commissioners unanimously agreed that other states would take on additional obligations - in particular, Russia and the OPEC countries. They, according to the Americans, should radically reduce the volume of oil produced.

    The opinion of Russia and the OPEC countries on this issue have traditionally forgotten the gentlemen to ask?
    They do not want to cut back - no need. No one is forcing. Let them store oil in stacks in a warehouse. yes
    1. Sergey Latyshev Offline Sergey Latyshev
      Sergey Latyshev (Serge) 8 May 2020 08: 43
      -1
      Exactly. Turn on the fig if the Trusteeship is not included. And oil - they are the largest consumers. Understand on the spot.

      Russia, for example, does not participate in the long-standing trade war of Denmark, Norway, England, and others about the extraction of herring. She just doesn’t care.
  3. The comment was deleted.
  4. shadow Offline shadow
    shadow 6 May 2020 18: 11
    0
    They don’t want, but they’ll have to. Oil storage facilities are not rubber.
  5. The comment was deleted.
  6. radiootdel4 Offline radiootdel4
    radiootdel4 (Vladimir) 7 May 2020 13: 52
    +1
    ... Texas commissioners agreed that other states take on additional obligations - in particular, Russia and OPEC countries

    - an example of the so-called arrogant arrogance .... or endless opupeniya.
    1. isofat Offline isofat
      isofat (isofat) 7 May 2020 14: 03
      +2
      The USA are rogues, they recently discussed it when the moon deals were discussed. The whole question is the degree of their "hunchiness" and how to fix it.
      1. radiootdel4 Offline radiootdel4
        radiootdel4 (Vladimir) 7 May 2020 14: 04
        0
        So hunchback it’s clear what will fix ...