Subscribers

US set to end oil-export limits; Congress may vote on Thursday

House and Senate reach a deal on tax and spending plans that include lifting the restrictions

Washington

THE US is poised to reverse an energy policy that has helped define its relations with the world for more than a generation after congressional leaders agreed to lift the nation's 40-year-old restrictions on crude-oil exports.

The House and Senate on Tuesday evening reached a deal on tax and spending plans that included an end to the oil-trade limits, according to Representative Reid Ribble and Representative Joe Barton, who spoke after a meeting with fellow party members.

The deal has been brokered to help smooth its passage through Congress, which may vote as soon as Thursday. While President Barack Obama is opposed to lifting the ban, the White House has stopped short of threatening...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes