OPEC-Style Limits for Oil-Rich Texas Divide Shale Industry (2)

Texas oil regulators are about to consider sweeping supply restrictions just days after an alliance of most of the world’s biggest crude producers largely failed to quiet growing alarm over a worldwide glut.

The Texas Railroad Commission, which oversees crude output in a state that pumps more oil than every OPEC member except Saudi Arabia, is scheduled Tuesday to discuss a production clampdown in response to the historic price slump. The debate will unfold in the wake of a weekend accord to slash output by OPEC, Russia, Mexico and a who’s-who of the world’s major crude suppliers.

The U.S. ...