After Washington Chats, Drillers Hopeful US Will Ease Oil Export Ban
A BIS spokesman did not reply to requests for comment on the nature or frequency of recent meetings.
Many analysts believe any action is likely to be low-key and incremental. The BIS could grant individual export permits quietly, for example, or approve limited swaps of crude for other varieties with other countries like Mexico. Some doubt there will be any action at all until after the mid-term elections.
Any easing of the ban could provoke a backlash. Some critics say booming U.S. shale oil production should remain at home to temper gasoline prices. Environmentalists seeking to stymie more oil drilling are also lining up to oppose overseas shipments.
But market pressures to export are building as the shale energy boom floods the country with excess light, sweet crude.
A number of other oil companies have also recently met with trade officials to talk about condensate exports, according to Robert Dillon, a spokesman for Alaska Senator Lisa Murkowski, a champion of U.S. crude exports.
Last month, Murkowski presented a paper that said existing rules could be easily amended to allow for condensate sales abroad. On Thursday she urged allowing for oil swaps.
"It won't solve the oversupply issue but it is a good first step," Dillon said.
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