According to US commerce department the US trade deficit decreased by 6.99% in June 2014 on month on month basis to USD 41.54 billion. Exports of goods and services rose by only 0.15 percent to a USD 195.9 billion in June while imports fell by 1.20 percent to USD 237.4 billion.For May revised 2014 trade deficit was USD 44.66 billion. Year on year basis US trade deficit has increased by over 13%.
US Oil production increased by 2.88% in May 2014 on month on month basis to 259 million barrels while US oil imports decreased by 1.89% to 222 million barrels on month on month basis. Year on year basis US oil production increased by 14.7% and oil imports decreased by just 7.39%.