The U.S. could become an oil exporter, thanks to the domestic production boom, Shell Oil President Marvin Odum said. Technological breakthroughs in drilling have helped producers tap shale formations that led to the production surge, but most of the output is light oil, Odum said. Most refineries in the U.S. are designed to handle heavier oil grades, so some of the oil from shale could be transported to other countries where it could be refined more easily, Odum added.

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