The US is about to send a lot more oil into an already oversupplied world market

The U.S. is about to boost its status as a major oil exporter.

New pipelines are coming online to transport oil from a bottleneck in the Permian Basin to the Gulf Coast where it can be shipped to the world.

The U.S. is turning the Gulf Coast into a major export hub, and that could one day make U.S. crude an international benchmark, according to Citigroup’s Ed Morse.

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Source: CNBC.COM