Photo: Art Wager / E+ / Getty Images
Record production from the Texas oil industry may not make a difference in the price at the pump. The Texas Railroad Commission reported on Tuesday that the state's oil production last year was nearly two-billion barrels, more than 200-million barrels above 2022, and more than doubling 2014's production. Meanwhile, Mexico is reportedly planning to slash oil exports as its production falls to the lowest level in 45-years. Ongoing instability in the Middle East means Texas production may not be enough to bring down gasoline prices.