While the first large-scale exports of US crude oil in a generation have been, on balance, positive for US oil prices, there remains little prospect in the near term for the trend to significantly impact demand for US oil and thus bolster domestic oil prices and drilling to any substantial extent. That's the main takeaway from a talk we had with Matt Smith, director of commodity research at New York-based Clipperdata, a consultancy focused on waterborne trade of crude oil and refined products.
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