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Economic Figures

Oil Imports Lead to Trade Deficit Surge

Thursday, May 10, 2007 11:01:17 PM
By MARTIN CRUTSINGER

Police guards headquarters of Russian oil gaint Yukos in Moscow, Thursday, May 10, 2007.  A subsidiary of Russia's state-controlled oil company OAO Rosneft on Thursday bought the remaining production and refining assets of bankrupt OAO Yukos at an auction for 165.5 billion rubles (US$6.42 billion; 4.73 billion). The Rosneft subsidiary, called Neft-Aktiv, bought Yukos' Samaraneftegaz production unit, with a capacity of about 200,000 barrels a day, and three refineries. (AP Photo/Dmitry Lovetsky) WASHINGTON (AP) - The trade deficit rose to the highest level in six months as a big jump in oil imports offset a narrowing of the politically sensitive deficit with China.

The gap between what the United States imports and what it sells to the rest of the world rose to $63.9 billion in March, up 10.4 percent from the February level, the Commerce Department reported Thursday.

Almost two-thirds of the deterioration in the deficit reflected a 17.6 percent jump in oil imports, which climbed to $24.6 billion, the highest level in six months.


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