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GAO sees differing crude, product price impacts with more exports
Oil & Gas Journal: Removing US crude oil export restrictions would likely increase crude prices and decrease consumer fuel prices, the Government Accountability Office said in a recent report. It also called for a reexamination of the size of the US Strategic Petroleum Reserve.
The report said studies project that removing existing crude export restrictions would raise US production, which averaged 8 million b/d in April, by 130,000-3 million b/d from 2015 to 2035. US crude prices could rise $2-8/bbl as a result, bringing them closer to international levels, it indicated.
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