Oil Price Rebounding..?, page-16

Cuts to production is what's needed. That nail is deep in OEL (and BYE) as they have cut production due to price.

TXRCC can, as the state regulator, mandate a cut ... shale or not is irrelevant ... just like say AER did with oil sands production to protect price of WCS.

Shale CH 11/Bankruptcy doesn't lead to a cut in production. A reduction in Capex leads to less growth and in some (many?) where its big enough then new wells are not sufficient to put off the natural decline. But that takes time. Whats necessary is cuts now. I'd say only "regulators" can force that to happen. And state sponsored NOC make that decision easy.

For the last 12 mths TX produced crude oil ~ 4.1 Mmbopd keep that in mind so a 25% cut only takes off 1Mmbopd and what I'm reading is talks of a 10% cut (so that's only 400 Mbopd). Also TX is about 40% of US crude production

"The RRC reports that from February 2019 to January 2020, total Texas reported production was 1.5 billion barrels of crude oil and 9.9 trillion cubic feet of total gas. Crude oil production reported by the RRC is limited to oil produced from oil leases and does not include condensate, which is reported separately by the RRC."

TXRCC was OPEC back in the day ... it hasn't mandated production cuts since 1970s. It's also a tricky thing for them to implement as back in the day when such power was last used (1972), TXRRC allowed producers only to pump to a percentage of the so-called maximum efficient rate of (MER) of each well. TX has over 170,000 oil wells so on an individual MER/well basis it can't get off the ground in reality.