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Trump administration denies plan to ban U.S. oil and fuel exports
Reports had pointed to a potential export ban, but officials said none is planned despite record-high distillate fuel exports and elevated gasoline and diesel prices.
OilPrice reports that news coverage last week suggested the Trump administration was considering an export ban on crude oil and refined petroleum products such as gasoline and diesel to bring prices down after a reduction in global oil supplies tied to the Iran war.
In response, a Trump administration spokesperson said the administration has no plans to ban exports of oil or natural gas products, even as the underlying price pressures remain.
The article notes that distillate fuel exports, which include diesel and fuel oil, have reached the highest levels on record, while gasoline exports have been bouncing between about 750,000 and 1 million barrels per day.
OilPrice adds that implementing an export ban would require the president to declare an emergency, with the piece citing the Strait of Hormuz as an example of a scenario that could be viewed that way, though it is unclear how much any such ban would actually lower prices.
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