Nearly half of all land rigs in service in the United States are in Texas, where a state regulator said oil production increased 5 percent from January. The Railroad Commission of Texas, the state’s energy regulator, said preliminary data from February show crude oil production averaged 2.34 million barrels per day. That’s an increase of 5.2 percent , or 117,550 barrels, from January and 17 percent higher than February 2014. Texas is the No. 1 oil producer in the nation. The so-called Beige Book published by the Dallas Federal Reserve said the low price for crude oil is hurting the state’s oil sector. While most firms surveyed by the bank said they’d be able to weather […]