The People of America's Oil and Natural Gas Indusry

New Year Brings Energy Policies into Focus

Mary Leshper

Mary Schaper
Posted January 7, 2015

U.S. Trade Gap Narrows to $39 Billion in November

Wall Street Journal: The U.S. trade gap narrowed in November to its lowest level in nearly a year, reflecting gyrations in the oil market that mask strong underlying domestic demand for foreign goods.

The trade deficit fell 7.7% to a seasonally adjusted $39 billion in November from the prior month’s deficit of $42.25 billion, the Commerce Department said Wednesday. The reading marks the smallest deficit since December 2013. October’s deficit was revised from an initially reported $43.43 billion.

The narrower trade gap could support fourth-quarter economic growth. Barclays lifted it forecast fourth-quarter gross domestic product forecast to a 3.5% gain from a 2.7% advance following the trade report. Credit Suisse moved its estimate to a 3.2% advance from 2.9%.

Read more:

More industry news:

In case you missed API’s annual State of American Energy, here’s some coverage:


Mary Schaper is a Digital Communications Manager for the American Petroleum Institute. She previously worked on Capitol Hill for the Senate Energy and Natural Resources Committee as Digital Director and for Senator Lisa Murkowski. Before coming to D.C., she spearheaded digital strategy for Murkowski's successful Senate write-in campaign in 2010. Schaper enjoys traveling and taking in the local culture alongside her husband, their son and loyal springer spaniel.