Ban on Oil Exports Won’t Be Lifted This Year, Upton Says

A four-decade-old ban on crude exports from the U.S. will survive another year, the chairman of the U.S. House’s Energy and Commerce Committee said.

Policy makers need time to decide whether to lift the 1975 prohibition on exporting most crude, “and that won’t happen this year,” Fred Upton, a Michigan Republican, said yesterday at an energy conference in Washington. The U.S. allows shipments of refined products including gasoline and diesel.