U.S. Oil Exports Rise 7-Fold in First 3 Months
The 40-year ban on exporting U.S. crude was lifted last December. Since then, there’s been a seven-fold increase in America’s oil exports to destinations other than Canada, which was excluded from the ban.
“Exports should pick up. The reason we’re not surging now is the world is still oversupplied with crude,” said Anthony Starkey, energy analysis manager at Platts Analytics.
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