February 2018

OPEC's February Oil Market Report showed that the global oil glut is growing again

Since the media largely missed what the data from OPEC's February Oil Market Report (covering January OPEC & global oil data) actually showed, and since Saudi jawboning about oil supply and demand in advance of the Aramco IPO has been keyed to keeping oil prices higher, we'll take a quick look at that report, which is available as a free download.

December Trade Deficit Up 5.3% on Higher Imports of Cellphones, Drugs and Cars

The Commerce Department report on our international trade in goods and services for December indicated that our seasonally adjusted goods and services trade deficit rose by $2.7 billion to $53.1 billion in December from a revised November deficit of $50.4 billion.