U.S. Crude Imports Fall to Lowest Level Since 1998
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U.S. crude-oil imports fell to the lowest level in almost 16 years as domestic output rose, the Energy Information Administration reported.
Shipments of foreign crude fell 1.1 percent to 7.41 million barrels a day, the fewest since January 1998, based on the four-week average through Dec. 27, according to data released today by the EIA, the Energy Department’s statistical arm. U.S. crude output surged to a 25-year high on rising production from shale formations.