DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/x95mmv/us_export) has announced the addition of the "US Export Policies Adopting to Changing Crude Oil Supply Landscape" report to their offering.
The regulation for prohibiting crude exports in the US was enacted 1975 under the Energy Policy and Conservation Act during the height of the Oil Embargo by OPEC against the US. This law made sense as domestic production was declining and the US was the world's largest crude oil importer.
U.S. crude oil and condensate production has significantly increased since the use of fracking technology in the U.S. The increase in production has had a profound impact on reducing seaborne crude oil imports into the US. As refiners were able to effectively utilize increasing domestic crude oil production by displacing light sweet crude oil imports and then increasing refining runs to profitably export products into the Global Market.
There are no restrictions concerning the export of refined product from the U.S. The approval process for the construction of LNG facilities and the export of LNG into the global market has accelerated. The recent ruling by the U.S. Bureau of Industry and Security (BIS) permitting distilled condensate to be exported represents a step-change in U.S. policy regarding crude / condensate exports from the US. The next step is the exporting of distilled crude oil that has the potential to significantly impact crude prices and refining margins.
Key Topics Covered:
- Crude Production in the US Displacing Imports While Demand Holds Steady
- Politically Motivated US Hydrocarbon Export Policy
- Domestic Crude Overwhelming US Refining Complex
- Micro-Refineries Not the Answer to Mega-Production Increases
- Game changing approval to export processed condensate
- The possibility to expand crude exports
For more information visit http://www.researchandmarkets.com/research/x95mmv/us_export