Keith Schaefer: The US Won’t Lift its Crude Oil Export Ban Just Yet

At the Canadian Investor Conference, held in Vancouver from June 1 to 2, the Investing News Network had the chance to speak with Keith Schaefer, editor and publisher of Oil & Gas Investments Bulletin, about the current state of the oil market.

Schaefer commented on the surprises he has seen from oil over the past six months, as well as what factors he thinks could push oil prices higher. He also shared his thoughts on recent indications that the US may lift its ban on crude oil exports, stating, “right now I don’t see that happening.”

“The reality is the United States still imports 7 million barrels a day,” Schaefer continued, “everyone talks about energy independence, but the reality is they’re still importing way more than they are producing, even though production is up so much.” Schaefer concluded by sharing his thoughts on what investors should look for when investing in oil companies.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.