According to US commerce department the US trade deficit was down by 7.69% in November 2014 on month on month basis to USD 39 billion down by USD 3.2 billion from USD 42.2 billion in October. Exports of goods and services decreased by 1% to USD 196.4 billion in November while imports at USD 235.4 billion were down by 2.16%. For October revised trade deficit was USD 42.25 billion. Year on year basis, US trade deficit has increased by 8.42%.
US Oil production increased by 4.08% in October 2014 on month on month basis to 280.43 million barrels while US oil imports decreased by 1.86% to 221.02 million barrels. Year on year basis US oil production ramped up by 17.15% and oil imports decreased by 4.61%. Read our analysis on Crude Oil Dynamics and Shale Oil Dynamics and US Oil Production