US EditionTrump does not plan to bar oil or gas exports, say Burgum and Wright
Officials say a ban would raise global crude prices and fuel costs, while the administration uses the Strategic Petroleum Reserve and considers easing Iranian crude restrictions.
- On Thursday, a Trump official told the Financial Times the administration ruled out restricting U.S. crude exports, focusing on less disruptive options.
- With Brent crude near $110 per barrel and pump prices approaching $4 a gallon, pressure rose in Washington amid the Iran war fallout.
- Because U.S. fuel prices track global benchmarks, export limits would not directly ease consumer costs, and the U.S. refining system cannot absorb all crude, risking a Gulf Coast glut.
- The administration opted for SPR draws and other supply options rather than export curbs, with officials tapping the Strategic Petroleum Reserve and weighing easing restrictions on Iranian crude already on the water to avoid tightening global crude markets.
- Industry leaders warned that an export ban would backfire by reducing producers' revenue and discouraging drilling just as more supply is needed, citing structural market issues.
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Washington. U.S. President Donald Trump’s administration has no plans to restrict oil and gas exports to control local prices in the midst of the military operation against Iran, Energy Secretary Chris Wright said.
‘No Plan’ to Contain Gas Prices by Restricting US Energy Exports, 2 Cabinet Secretaries Say
Energy Secretary Chris Wright and Interior Secretary Doug Burgum issued an identical statement on March 19 that there is “no plan” to restrict oil and natural gas exports as an emergency wartime measure to ease skyrocketing fuel costs before commercial traffic is restored in the Strait of Hormuz. “Thanks to [President Donald Trump], the United States is the world’s top oil and natural gas producer. We are also the largest natural gas exporter an…
Trump does not plan to bar oil or gas exports, say Burgum and Wright
The Trump administration will not restrict U.S. exports of oil or natural gas amid rising prices over the war in Iran, top officials said Thursday. In identical statements posted on social platform X, Interior Secretary Doug Burgum and Energy Secretary Chris Wright said, “To be clear, the Trump administration has no plan to implement restrictions on oil and…
US: No Ban On Oil Exports
The Trump administration is drawing a clear line as oil prices surge: no export ban. With Brent crude pushing $110 per barrel and U.S. gasoline prices nearing $4 a gallon, pressure is building in Washington to respond to the fallout from the Iran war. But officials are signaling they won’t reach for one of the most disruptive policy tools on the table—restricting U.S. crude exports. “Oil and gas export restrictions are not under consideration,” …
Wright Says Trump Administration Has No Plan to Restrict Oil and Gas Exports - Energy News, Top Headlines, Commentaries, Features & Events
(Reuters) – U.S. Energy Secretary Chris Wright on Thursday said in a post on X that President Donald Trump’s administration has no plan to implement restrictions on oil and gas exports. Reporting by Bhargav Acharya; Writing by Daphne Psaledakis; Editing by Ryan Patrick Jones
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