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OPEC, Texas RRC Set to Meet As Oil Rout Continues

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   |    Friday,March 20,2020

The Texas Railroad Commission (TX RRC) and OPEC are set to meet today over oil prices, according to a report by The Wall Street Journal.

OPEC Secretary-General Mohammed Barkindo will meet with Texas RRC Commissioner Ryan Sitton sometime today (Friday, March 20) regarding the market turmoil caused by the Saudi Arabia / Russia oil price war and the COVID-19 pandemic.

Other details about the meeting were not immediately available.

This comes after the Texas RRC announced yesterday that it is considering curtailing the state's oil production output for the first time since the 1970s. Several E&Ps had reached out to the RRC requesting relief, which spurred discussion of the potential for curtailment action.

We will update this story as it develops.

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