US senators closing in on oil-export deal, say sources

Washington

SENATE negotiators are nearing a deal to allow unfettered US crude oil exports for the first time in 40 years, though differences remain on renewable-energy tax credits that Democrats are demanding in return, according to people close to the discussions.

While any agreement could still collapse in the coming days - the deal faces opposition in the House - lawmakers are weighing the extension of solar and wind tax-credits for as long as five years in exchange for lifting the crude-export restrictions, which were established to counter the energy shortages of the 1970s.