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Momentum builds for end to US oil export ban

A deal that would lift export restrictions is possible later this year as debate over crude export restrictions heats up

The Senate Energy and Natural Resources Committee approved a bipartisan package of energy measures on 30 July that includes lifting the ban on oil exports. US crude producers are hopeful that the 1970’s-era US oil export ban will be lifted this year, while refiners – who have been raking in the arbitrage – are lobbying against the lifting. Only crude is affected: exports of other hydrocarbons – natural gas, coal and refined products – are all allowed. The surge in US oil output, which rose by more than 1m b/d a year from 2012 to 2014, has transformed the world’s oil market. Although still a significant importer, the US has become far less reliant on fore

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