The Strange Surge in U.S. Oil Imports

The tanker Eagle Seville discharges crude oil at the Port of Corpus Christi in Corpus Christi, Texas Photograph by Eddie Seal/Bloomberg

On Thursday we learned that the U.S. trade deficit widened in January by a surprising 16 percent, to $44.4 billion. The $6.3 billion increase was almost entirely the result of a sudden spike in oil imports. Excluding crude, the deficit was basically flat at around $20 billion, according to Bloomberg.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.