According to US commerce department the US trade deficit widened by 24.62% on year on year basis in December 2014. US trade deficit increased by 17% in December 2014 on month on month basis to USD 46.60 billion and it was at USD 39.80 billion in November .Exports of goods and services decreased by 0.7% to USD 194.9 billion in December while imports at USD 241.4 billion,increased 2.2% over November 2014.
US Oil production decreased by 3.55% in November 2014 on month on month basis to 270.61 million barrels while US oil imports decreased by 1.26% to 218.22 million barrels. Year on year basis US oil production ramped up by 13.59% and oil imports decreased by 1.51%. Read our analysis on Crude Oil Dynamics and Shale Oil Dynamics and US Oil Production