U.S. Loosens Longtime Ban on Oil Exports

by The Wall Street Journal

Countries from Japan and South Korea to Poland have expressed interest in buying American oil, in part so they don’t have to rely as heavily on big oil-pumping countries such as Iran and Russia, said George Baker, executive director of Producers for American Crude Oil Exports. “Other countries quite clearly want to get in on the benefits—geopolitical and economic,” he said. “They want in on this American oil renaissance for good reasons.”

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