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The White House strongly opposes legislation lifting the decades-old ban on U.S. crude oil exports, the Executive Office of the U.S. President reported in its statement.
Bill H.R. 702 to adapt to changing crude oil market conditions is expected to be passed on Friday, according to the report.
"Legislation to remove crude export restrictions is not needed at this time," the Obama administration said.
Congress should be focusing its efforts on supporting our transition to a low-carbon economy, according to the statement.
"It could do this through a variety of measures, including ending the billions of dollars a year in Federal subsidies provided to oil companies and instead investing in wind, solar, energy efficiency, and other clean technologies to meet America's energy needs," the statement reads.
Earlier UNIAN reported that global oil demand is expected to grow the most in six years in 2016, while oil production growth from countries outside OPEC will stop, the U.S. Energy Information Administration predicts.