<blockquote>'The Obama administration’s move to allow exports of ultralight crude without government approval may encourage shale drilling and thwart Saudi Arabia’s strategy to curb U.S. output, further weakening oil markets, according to Citigroup Inc.
A type of crude known as condensate can be exported if it is run through a distillation tower, which separates the hydrocarbons that make up the oil, according to U.S. government guidelines published yesterday. That may boost supplies ready to be sold overseas to as much as 1 million barrels a day by the end of 2015, Citigroup analysts led by Ed Morse in New York said in an e-mailed report.'
- Heesu Lee,
U.S. Opening Door to More Oil Exports Seen Foiling OPEC Strategy, December 31, 2014</blockquote>
Context<blockquote>
(Oil target bandwidth price: $20 - $40) - '..shale oil .. remains commercially viable .. below $42..''The U.S. will surpass Russia and Saudi Arabia as the world’s top oil producer by 2015..' - '..an end to the ban on exports..'</blockquote>