North Dakota regulators reject mandatory oil production cuts
Wednesday, July 8, 2020
North Dakota regulators on Tuesday rejected imposing mandatory production cuts on the oil industry.
Both Texas and Oklahoma rejected similar proposals this year as oil prices fell during the coronavirus pandemic. The three-member North Dakota Industrial Commission decided unanimously to dismiss the idea following a lengthy hearing in May.
Many oil producers and tribal mineral owners from the Fort Berthold Indian Reservation opposed mandatory production cuts, The Bismarck Tribune reported.
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