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House votes to repeal crude export ban

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Report summary

On October 9 the US House of Representatives approved a bill to repeal a 40 year ban on exporting domestically produced crude oil with balloting largely along party lines. However the real test is in the narrowly divided Senate where stand alone export legislation is far less likely to advance and well as the threat of a presidential veto. From a commercial stand point a change in policy would have little impact on US crude oil export volumes today as US crude oil producers realize a higher netback selling their volume on the US Gulf Coast.

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    House votes to repeal crude export ban

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