Currently, based on NASDAQ closing prices on October 16, the price of crude oil (WTI) was $47.26 per barrel (1). Based on the “economic theory of international trade,” which ends the oil embargo by adding US oil exports to the world market, the price of oil would be pushed more towards the world price. Therefore an increase in global supply and demand would have an effect on the price of oil. In this case, an increase in supply, other things being equal, would result in a decrease in the world price. However, with an increase in supply, it is possible that the demand for crude oil will increase, which would result in an increase in the price of oil (2). By lifting the ban on crude oil exports, there would likely be an increase in the price of crude oil in the United States, but there would be a decrease in the world price of crude oil, due to increased competition (6). However, the effects on oil prices are not likely to be large. An increase in global crude oil supply would lead to “price stability,” which would play an important role should future supply concerns arise