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Bloomberg
Continental Resources Inc founder Harold Hamm told Texas oil regulators he expects neighbouring Oklahoma to adopt crude-production limits in a bid to bolster energy prices.
Hamm’s comments came during a marathon hearing of the Texas Railroad Commission on whether to enact quotas amid the worst crude-market crash on record. Oklahoma, the fourth-largest US oil-producing state, plans to consider imposing caps on May 11.
Hamm said he expects the Oklahoma Corporation Commission to restrict crude output in a manner similar to how it has limited natural gas production.