If preliminary data are accurate, total Texas crude oil production for 2016 was down 10 percent from the previous year, the state government reported. The Railroad Commission of Texas reported a preliminary production rate for crude oil of 74.2 million barrels for all of December, down from the 76.7 million barrels reported for the previous month. When including condensate, an ultra-light form of oil, preliminary production for December was 83.2 million barrels, down 3.6 million barrels from November. Condensate is an ultra-light form of oil found in shale deposits that’s not classified by national standards as crude oil. “These preliminary figures are based on production volumes reported by operators and will be updated as late and corrected production reports are received,” the commission […]