Information for new investorsSometimes you read the headlines US exporting lots of oil....so you might be thinking it's being exported due to lack of demand.
On the contrary....when you don't have enough Refinery capacity you need to export oil to those who can refine oil....now you see why an export ban would not work...glad the unintelligent ones in Washington stopped talking about that....oh and how about Nopec....yeah that died too LOL
"Over 5 million barrels of US reserve oil were exported to Asia and Europe last month as domestic refineries run at full capacity, report says"