Diplomacy and International relations - GS questions based on daily current affairs for Q. 18544

Q.  Which country lifted the 40 year ban on export of oil?
- Published on 28 Dec 15

a. Iran
b. USA
c. Iraq
d. Libya

ANSWER: USA
 
- US politicians have approved a measure to lift the 40-year ban on crude oil exports.
- US oil producers will now be able to sell crude to the already saturated international market.
- the ban was imposed after Arab oil embargo that had sent global shooting up of oil prices in 1974.

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