U.S. enjoys first-ever oil trade surplus with Latin America

The U.S. for the first time is pushing more crude and refined petroleum products into Latin America than it brings back, signaling a change in the global trade map that could be tested if President Donald Trump introduces border taxes. The scales tipped in favor of the U.S. in October, when it recorded a surplus of 89,000 bopd, the first gain for the U.S. since records began in 1993, according to the U.S. Energy Information Administration. In November, the surplus grew to 184,000 bopd, the EIA said Tuesday. That compares to a 4.3 million barrel deficit in 2005. More »