U.S. House leaders heard testimony largely in support of lifting a ban on crude oil exports, though debate over OPEC’s market role emerged on the margins. The House Agriculture Committee heard testimony from industry leaders and experts largely in favor of lifting the 1970s-era ban on domestic crude oil exports. Chairman K. Michael Conway, R-Texas, said lifting the ban would have widespread benefits for the United States in the era of shale. “Lifting the oil export ban will grow our economy, it will also improve our geopolitical position and it will lower gas prices,” he said in a statement. Arab members of the Organization of Petroleum Exporting […]