Oklahoma’s energy regulator on Wednesday ruled in favor of an oil company’s emergency application to classify unprofitable production as economic waste, enabling producers to maintain leases when output is halted due to low prices. The decision represents the first win by oil groups seeking regulatory relief to oil and gas prices that have tumbled to levels not seen in decades. New Mexico on Tuesday agreed to allow producers to apply to shut in oil wells on state lands for at least 30 days. Crude supplies have overwhelmed global demand, which has fallen more than 30% due to the coronavirus outbreak that limited business openings and travel. This week, U.S. crude futures traded negative for the first time in history, and on Wednesday were around $14.60 a barrel. In Cushing, Oklahoma, […]