{"id":3801,"date":"2014-12-31T11:57:26","date_gmt":"2014-12-31T16:57:26","guid":{"rendered":"http:\/\/olduvai.ca\/?p=3801"},"modified":"2014-12-31T11:57:26","modified_gmt":"2014-12-31T16:57:26","slug":"u-s-easing-of-oil-exports-challenges-opecs-strategy-bloomberg","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=3801","title":{"rendered":"U.S. Easing of Oil Exports Challenges OPEC&#8217;s Strategy &#8211; Bloomberg"},"content":{"rendered":"<p><a href=\"http:\/\/www.bloomberg.com\/news\/2014-12-31\/u-s-opening-door-to-more-oil-exports-seen-foiling-opec-strategy.html\">U.S. Easing of Oil Exports Challenges OPEC&#8217;s Strategy &#8211; Bloomberg<\/a>.<\/p>\n<p style=\"box-sizing: border-box; margin-top: 0px; margin-bottom: 28px; font-size: 1.1em; line-height: 1.3125em;\">The Obama administration\u2019s move to allow exports of ultralight crude without government approval may encourage shale drilling and thwart\u00a0<a style=\"box-sizing: border-box; cursor: pointer; color: #003399; text-decoration: none; outline-style: none; outline-width: initial; outline-color: initial; font-family: akzidenz-grotesk-std-bloom, Arial, Helvetica, sans-serif; font-style: normal; font-weight: bold;\" href=\"http:\/\/topics.bloomberg.com\/saudi-arabia\/\">Saudi Arabia<\/a>\u2019s strategy to curb U.S. output, further weakening oil markets, according to Citigroup Inc.<\/p>\n<p style=\"box-sizing: border-box; margin-top: 0px; margin-bottom: 28px; font-size: 1.1em; line-height: 1.3125em;\">A type of crude known as condensate can be exported if it is run through a distillation tower, which separates the hydrocarbons that make up the oil, according to U.S. government guidelines published yesterday. That may boost supplies ready to be sold overseas to as much as 1 million barrels a day by the end of 2015, Citigroup analysts led by\u00a0<a style=\"box-sizing: border-box; cursor: pointer; color: #003399; text-decoration: none; outline-style: none; outline-width: initial; outline-color: initial; font-family: akzidenz-grotesk-std-bloom, Arial, Helvetica, sans-serif; font-style: normal; font-weight: bold;\" href=\"http:\/\/topics.bloomberg.com\/ed-morse\/\">Ed Morse<\/a>\u00a0in\u00a0<a style=\"box-sizing: border-box; cursor: pointer; color: #003399; text-decoration: none; outline-style: none; outline-width: initial; outline-color: initial; font-family: akzidenz-grotesk-std-bloom, Arial, Helvetica, sans-serif; font-style: normal; font-weight: bold;\" href=\"http:\/\/topics.bloomberg.com\/new-york\/\">New York<\/a>said in an e-mailed report.<\/p>\n<p style=\"box-sizing: border-box; margin-top: 0px; margin-bottom: 28px; font-size: 1.1em; line-height: 1.3125em;\">Saudi Arabia led the Organization of Petroleum Exporting Countries to maintain its production quota at a meeting last month even as a shale boom boosted U.S. output to the highest in more than three decades. That prompted speculation OPEC was willing to let prices fall to force some companies with higher drilling costs to stop pumping.<\/p>\n<p style=\"box-sizing: border-box; margin-top: 0px; margin-bottom: 28px; font-size: 1.1em; line-height: 1.3125em;\">\u201cU.S. producers are under the gun to reduce\u00a0<a style=\"box-sizing: border-box; cursor: pointer; color: #003399; text-decoration: none; outline-style: none; outline-width: initial; outline-color: initial; font-family: akzidenz-grotesk-std-bloom, Arial, Helvetica, sans-serif; font-style: normal; font-weight: bold;\" href=\"http:\/\/topics.bloomberg.com\/capital-expenditures\/\">capital expenditures<\/a>\u00a0given lower prices,\u201d Citigroup said in the report. \u201cNow an export route provides a new lease on life that can further weaken crude oil markets and throw a monkey wrench into recent Saudi plans to cripple U.S. production.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S. Easing of Oil Exports Challenges OPEC&#8217;s Strategy &#8211; Bloomberg. The Obama administration\u2019s move to allow exports of ultralight crude without government approval may encourage shale drilling and thwart\u00a0Saudi Arabia\u2019s strategy to curb U.S. output, further weakening oil markets, according to Citigroup Inc. A type of crude known as condensate can be exported if it [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[1775,600,845,846],"class_list":["post-3801","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-oil-price-collapse","tag-opec","tag-us-oil-exports","tag-us-shale-oil"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3801","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3801"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3801\/revisions"}],"predecessor-version":[{"id":3802,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3801\/revisions\/3802"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3801"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3801"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3801"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}