There has been no change in U.S. policy regarding the export of domestically produced crude oil, the president’s spokesman said. U.S. Energy Information Administration Administrator Adam Sieminski said that, while low crude oil prices are slowing the rate at which domestic oil production is increasing, exploration and production activity is still accelerating at a record pace. “Drilling activity is expected to increase and U.S. production should rise in 2016 to its second highest daily output level since record production was set in 1970,” he said in a statement tied to the release of a short-term market report . Most of the increase in U.S. oil production is coming from shale basins in the Lower 48 states and some of that […]