Biden Has Limited Options to Respond to OPEC+ Cut

I have a feeling that export curbs will be on the table and they would be a bad idea. The US is still a refining destination and much of the crude that comes in is not destined for the US market. With as much sweet shale oil in the system today, the US needs a lot of heavy crude import to cut it into the sweeter stock and they need to keep exporting the overflow that necessarily results from that. If Biden limits exports from the US, operations at US refineries will become a whole lot more difficult which is not going to lower US retail prices. 

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