OPEC Sees Zero Impact on Oil Market From U.S. Lifting Export Ban
- `U.S. still is an importing country,' secretary-general says
- U.S. congress nearing agreement to end crude export ban
Is OPEC Fueling the Global Oil Glut?
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Oil prices won’t be affected by U.S. crude exports, according to OPEC’s top official.
“The net effect of export of American oil on the market is zero,” Abdalla El-Badri, secretary-general of the Organization of Petroleum Exporting Countries, said Tuesday. “This will have no effect on the price because the U.S. still is an importing country.”