US shale oil producers had little reason for cheer heading into the holidays. With WTI prices below $40/bl, profit margins are being squeezed and company managers are making painful choices about staffing levels for next year. But party leaders in the US Congress are in a giving mood. As part of a $1.8 trillion tax and spending package, they have struck a surprise deal to lift the crude export restrictions that have been in place for 40 years.
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