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2015-06-05 18:55:00

TEXAS OIL & GAS DOWN 40%

TEXAS OIL & GAS DOWN 40%

The outlook in the U.S. Texas oil and gas sector remains negative as most companies expect low capital spending in 2016, the Dallas Federal Reserve said.

Texas is the No. 1 oil producer in the nation. A weak market for crude oil, however, is throttling the state's overall energy trajectory. In its latest data release, the Railroad Commission of Texas, the state's energy regulator, said preliminary data from March show crude oil production averaged 2.31 million barrels per day, down from the 2.34 million bpd reported in February.

The Dallas Federal Reserve in its so-called Beige Book said demand for oil field…

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Tags: TEXAS, OIL, GAS,
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