Skip Navigation

Close and don't show again.

Your browser is out of date.

You may not get the full experience here on National Journal.

Please upgrade your browser to any of the following supported browsers:

Reveal Navigation

Surge in Petroleum Exports Narrows Trade Gap Surge in Petroleum Exports Narrows Trade Gap Surge in Petroleum Exports Narrows Trade Gap Surge in Petroleum Export...

share
This ad will end in seconds
 
Close X

Not a member? Learn More »

Forget Your Password?

Don't have an account? Register »

Reveal Navigation
 

 

Energy

Surge in Petroleum Exports Narrows Trade Gap

Record petroleum-product exports of $12.5 billion helped push the deficit down.(Joe Raedle/Getty Images)

December 4, 2013
Petroleum exports helped lower the U.S. trade deficit in October, the Commerce Department reported Wednesday.

The October trade gap fell 5.4 percent to $40.6 billion from September's $43 billion, Commerce reported. Record petroleum-product exports of $12.5 billion helped push the deficit down.

It's the latest evidence of a U.S. surge in exports of gasoline and other refined petroleum products. Meanwhile, U.S. crude oil imports rose slightly in October, but overall they've been falling sharply in recent years amid the domestic production boom and the flat demand for gasoline.

The Commerce Department data is another snapshot of seismic shifts in the U.S. oil-and-gas landscape.

 

The federal Energy Information Administration reported recently that U.S. crude oil production surpassed imports in October for the first time in roughly two decades.

Get us in your feed.
 
Comments
comments powered by Disqus