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Bank of America: No US crude oil export before 2019

The tank carriers looking to transport crude oil from the United States may have to wait a while. The Bank of America estimates that crude oil exports from the US will not be allowed before 2019.

Photo: PR-foto: DHT Holdings

The US ban against transporting crude oil will likely not be lifted before 2019, says the Bank of America according to Bloomberg.

The only thing that could change the ban would be a collapse of the US crude oil prices in the country, says the bank. But the rules could be amended so as to ease the ban a little, for instance by allowing exports to Canada or Mexico, a move that would not require actually changing the legislation.

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