Southwest oil independents issuing warning to Saudi Arabia

Oil companies and communities in New Mexico and Texas come together tomorrow.

They issue a warning to Saudi Arabia and OPEC to stop overproduction of oil and lower prices as a strategy to slow or shut them down or face import quotas.

Independents at the Panhandle Initiative to Reduce Imports hold an industry and public rally in Carlsbad tomorrow.

This runs from 11:30 to 2 o’clock at the Pecos River Village Convention Center.

Declining oil and gas revenue have caused New Mexico a $589 million budget deficit.