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Commodities Briefing - Categorized | Oil, Trading more

Guess who is the new OPEC?

Posted on 06 February 2014

Oil traders got a bit of excitement after a report by Reuters that the United States is starting to approve limited crude oil exports. Yet later it became more clear that they were talking about re-exporting foreign oil but none the less this could be the beginning of the movement to start the long road to approving U.S. oil exports.
Reuters reported that, “The U.S. government has authorized limited crude oil exports to Europe, for the first time in years, raising new questions about how companies are testing the limits of a controversial, decades-old exports ban………………………………………..Full Article: Source


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