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US Commerce Department Relaxes Rule On Exports

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June 25, 2014

The U.S. Commerce Department opened the door to more U.S. oil exports as long as the crude is lightly processed, tempering the impact of a law that has banned most overseas petroleum shipments for the past four decades Bloomberg said June 25.

The department widened its definition of what has traditionally been considered a refined product eligible for shipping to customers abroad. That means more of the oil being pumped from U.S. shale formations may be eligible for export after being run through small-scale processing units.

The Commerce Department issued ...

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