In spite of a record low oil price on the global market, the chances of the US opening up for oil export in the near future are growing. The matter will be featured on Washington's political agenda in September.
BY SØREN SPRINGBORG, ENERGIWATCH
Even though a long list of the international and hard-pressed oil majors will likely heave an anguished sigh, many factors indicate that cheap North American oil could soon be streaming into the global market.
On Dec. 5, all Russian crude oil will be banned in the EU. But oil from the warring country will still flow into the world market, and both the EU embargo and price cap can be circumvented, predicts sanctions lawyer.