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U.S. House Speaker John Boehner (R-OH) speaks at his weekly press briefing on Capitol Hill in Washington July 9, 2015. REUTERS/Yuri Gripas

House leader Boehner to support axing U.S. oil export ban

WASHINGTON – U.S. House of Representatives Speaker John Boehner will for the first time express his support on Wednesday for repealing the 40-year-old ban on domestic crude oil exports, two industry sources said.

Boehner is scheduled to hold a news conference on Wednesday on legislation the chamber will deal with after the August recess.

U.S. oil producers hope Congress will repeal the trade restriction, which they say has led to an oil glut that threatens to choke the drilling boom. A bill introduced by Representative Joe Barton, a Texas Republican, this year has more than 100 co-sponsors.

In related news, RRC Chairman David Porter lights up Congress with export ban testimony.

(Reporting by Timothy Gardner; Editing by Bill Trott)

This article was from Reuters and was legally licensed through the NewsCred publisher network.

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