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Shale drillers are now free to export US oil into global glut

Published Thu, Dec 17, 2015 · 09:50 PM

Chicago

US SHALE drillers will soon be able to sell their oil all over the world. Too bad no one needs it right now.

A congressional deal to lift the 1970s-era prohibition on shipping crude overseas has the potential to unleash a flood of oil from Texas and North Dakota shale fields into markets already flush with cheap supplies from the Persian Gulf, Russia and Africa.

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Companies & Markets

Shale drillers are now free to export US oil into global glut

Energy & Commodities

China could hinder BHP’s bid to become copper’s top producer

Oil settles higher on supply concerns in the Mid-East, economic woes subdue gains

Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early

Anglo rejects BHP takeover bid as significantly undervalued

India rice prices at three-month low on shrinking demand

Gold prices set for weekly decline ahead of US inflation data

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