The United States Department of Commerce said it has begun approving requests to sell light processed oil on the international market. The transactions, which now can be conducted by companies without government approval, pertain only to selling crude that has either been processed or refined. The export of raw crude is still outlawed. The announcement, which Reuters describes as “wrapped in
Russia set a post-Soviet production record and Iraq exported the most oil since the 1980s in the month of December, according to a report from Bloomberg. The information, which was acquired from an email by the Russian Energy Ministry, said Russia’s total production for December was 10,667 MBOPD – a month-over-month increase of 0.3%. The United States is the only
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