The U.S. is not opening the tap on crude oil exports
August 17, 2015
A planned deal to swap Mexican crude for lighter and more expensive U.S. oil is just a drop in the bucket toward ending a 40-year ban.
The U.S. ban on crude oil exports isn’t going anywhere - at least not anytime soon. Reports late Friday that the Commerce Department was close to sealing a deal, which would see U.S. crude oil shipped to Mexico, have been exaggerated in terms of its significance as it relates to the 40-year-old oil export ban. In reality, the deal will probably have little to no impact on the overall pricing or production of U.S. crude, nor does it indicate that the U.S. is close to lifting the export ban.
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