U.S. may ease crude oil export ban in deal with Mexico

The U.S. government is taking its biggest step yet to erode the ban on crude oil exports that has been in place since the 1970s, reports OilPrice.com. According to the energy news site, a Department of Commerce official said the federal government is “acting favorably on a number of applications” that are seeking an oil swap with Mexico. Under the proposal, the Obama administration would approve the limited export of light oil to Mexico in exchange for the United States receiving heavier Mexican oil. For more, read the full story.