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US bid for oil supremacy shakes market

Shale boom sharply cuts America's crude imports, freeing up oil for overseas markets and putting pressure on Opec

The US oil output boom has spawned calls from oil industry players to ease the US embargo on crude exports, which has been in place since the 1970s oil shocks.

New York

PROPELLED by surging shale output, the United States is fighting for supremacy in the global oil market even as a pullback in crude prices threatens to challenge the boom.

The US, which only a few years ago seemed to be in the midst of an inexorable decline in domestic