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RPT - US To Cut Oil Production By At Least 4Mln Barrels Per Day In Next 3 Months - Oil Regulator
Muhammad Irfan Published April 08, 2020 | 10:41 PM
The United States will reduce its oil production by at least 4 million barrels per day (bpd) in the next three months, Texas Railroad Commissioner Ryan Sitton said in a statement on Wednesday
WASHINGTON (UrduPoint News / Sputnik - 08th April, 2020) The United States will reduce its oil production by at least 4 million barrels per day (bpd) in the next three months, Texas Railroad Commissioner Ryan Sitton said in a statement on Wednesday.
"I'm not participating in the OPEC+ call [tomorrow], but if I were I'd say at least 20m bpd in cuts are needed and the US will cut at least 4mbpd in next 3 mo[nth]s organically," Sitton said via Twitter. "If nothing is done inventories fill up in 2mos, at which point the world will need to cut as much as 30m bpd."
The Texas Railroad Commission regulates the oil and gas industry, gas utilities, surface uranium and coal mining.
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