Wood Mackenzie says. U.S. crude oil exports are restricted under legislation enacted in response to the 1970s export embargo from Arab members of the Organization of Petroleum Exporting Countries. There are no restrictions on certain petroleum products like gasoline and some companies have recently started testing the moratorium with the export of condensate, an ultra light form of oil found in U.S. shale deposits. Harold York, an analyst of the refining sector at Wood Mackenzie, said condensate exports amount to a de facto ease on the restrictions, though, according to him, there are few “overt calls” from either side of the U.S. political aisle to lift the ban completely. Last week, Australian company BHP Billiton said it was the one that concluded oil products processed from the […]