Related Articles
Forward article link
Share PDF with colleagues

Congress to lift US ban on oil exports

Lifting crude export restrictions will have little effect in today’s low-price environment

Congressional leaders in Washington have hashed out a deal as part of a larger federal budget agreement that will end the US’ 1970s-era ban on oil exports, handing producers a hard fought victory and clearing the way for US crude to play a larger role on international markets. Don’t expect significant exports in the near term though. In recent weeks Brent’s premium over the US WTI benchmark has narrowed markedly, and stood at just $1.50 a barrel as legislators voted on the final deal. That differential is less than it would cost to ship US oil to most places, making oil exports uneconomic in most cases. That doesn’t mean there won’t be any oil exports. Imports of light sweet oil into the G

Also in this section
Canada: Trump OK is not the end of the line for Keystone XL
28 March 2017
The challenges are not over for the pipeline which will run from Alberta to the Gulf Coast
Oil and gas in the new world order
22 March 2017
Geopolitical risks are changing and rising. The energy sector will be in the crosshairs
Slow reset of US-Russian relations
20 March 2017
Trump and Tillerson should help improve US-Russia relations. But an end to sanctions doesn't look imminent