According to US commerce department the US trade deficit widened by 6.69% on year on year basis in January 2015. US trade deficit decreased by 8.33% in January 2015 on month on month basis to USD 41.80 billion and it was at USD 45.60 billion (revised) in December .Exports of goods and services decreased by 2.87% to USD 189.4 billion in January while imports at USD 231.2 billion,decreased by 3.91% over December 2014.
US Oil production increased by 5.68% in December 2014 on month on month basis to 286.00 million barrels while US oil imports increased by 2.41% to 223.49 million barrels. Year on year basis US oil production ramped up by 16.88% and oil imports decreased by 7.08%. Read our analysis on Crude Oil Dynamics and Shale Oil Dynamics and US Oil Production