1. Background and Analytical Framework Background Recent and projected increases in U.S. crude production have sparked discussion about the implications of current limitations on crude oil exports for prices, including both world and domestic crude oil and petroleum product prices, and for the level of domestic crude production and refining activity. In response to multiple requests, the U.S. Energy Information Administration is developing analyses that shed light on these issues. Studies completed since May 2014 have considered the characteristics of domestic crude production streams, price formation for gasoline and other petroleum products, tools to better track displacement of crude imports by domestic production, and technical options for processing additional light tight crude oil. Given that some responses to the growth in production that has already occurred since 2011, including the like-for-like replacement of crude oil imports comparable in quality to new domestic streams, are inherently limited going forward, the […]