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White House: No change to US policy on crude oil exports

Gas is flared as waste from the Monterey Shale formation where gas and oil is extracted using hydraulic fracturing, or fracking, in March 2014 near Buttonwillow, Calif.
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Gas is flared as waste from the Monterey Shale formation where gas and oil is extracted using hydraulic fracturing, or fracking, in March 2014 near Buttonwillow, Calif.

The White House said on Wednesday there had been no change to U.S. policy on exports of crude oil.

White House spokesman Josh Earnest made the comments after reports on Tuesday that U.S. officials have told energy companies they may export a variety of ultra-light oil if it has been minimally refined, an apparent marginal loosening of a decades-old ban on selling U.S. crude abroad.

Earnest suggested the reports had been misleading.

Watch: Crude oil inventories up 1.7 million barrels

By Reuters

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