USA Today quotes Global Energy Center Nonresident Senior Fellow Sara Vakhshouri on why ending the US oil export ban will help stabilize global oil prices:
Sara Vakhshouri, an energy analyst at SVB Energy International and the Atlantic Council think tank, said the end of the export ban will help stabilize global oil prices.
Some of the world’s major producing countries, such as Iraq, Syria and Libya have oil fields that are threatened or under control of terrorists, such as the Islamic State group. International airstrikes to counter those terrorists, who have sold oil to raise funds, have destroyed oil facilities. That takes that oil off the market and affects prices, Vakhshouri said.
“So it’s really important to have supply from countries not in these areas, including the U.S.,” she said.