The US should be careful selling oil

Not everyone is a fan of the recent lifting of the U.S. oil export ban.

“I would be very cautious for the Department of Energy to go ahead and move forward and try to sell some oil right now,” said Bill Richardson, former U.S. energy secretary, in an interview with CNBC on Wednesday.

“I think that’s a bad idea,” he told “Power Lunch.” “You use the Strategic Petroleum Reserves in emergencies … not when you want to affect prices.”

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