A company planning exports of so-called condensate from the United States said it’s operating according to precedent, though laws may be on the cusp of change. Data from the American Petroleum Institute show U.S. oil production is around 9.1 million barrels per day, the highest rate in roughly 40 years and an increase of more than 14 percent from last year. The increase in oil production is a direct result of activities in shale basins, notably the Eagle Ford and Bakken reserve areas in Texas and North Dakota, respectively. Conservative lawmakers have said the increase in a production means it’s time to relax laws that restrict crude oil exports. Arab members of the Organization of Petroleum Exporting Countries in the early 1970s placed an embargo on oil exports in […]