March 20 — Texas should consider production limits for oil companies in an effort to stabilize crashing prices, one of three commissioners at the state’s oil and gas regulator said Friday.

With U.S. oil prices down more than 60% this year in the face of falling demand from the coronavirus and a price war between Saudi Arabia and Russia, oil executives and regulators are reaching out to the Trump administration to float the idea of cutting Texas oil output 10%, said Ryan Sitton, one of the three elected members of the Texas Railroad Commission, which regulates oil and gas.

— Reuters