Five years ago on New Year’s Eve, the Theo T left the Texas Gulf Coast with the first US shale crude shipment overseas. The oil, gathered from nearby ConocoPhillips wells and sold to trading giant Vitol Group, set sail for Italy just two weeks after lawmakers lifted a long-standing ban on exports.It was the start of a trade that would reshape global oil markets, shift geopolitical power and upend entire economies. The shale boom itself has turned the US into the world's largest oil producer and ...
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