US exports touched a record high of nearly $193 billion in October, thanks, in part, to a jump in petroleum exports. The jump in outbound shipments helped shrink the US trade deficit to $40.6 billion.
The rise in US exports is just one of the ways that the US energy production boom is reshaping the global economic and political calculus. As this chart from Citigroup analysts shows, the US is rapidly gaining ground in production compared to energy giants such as Saudi Arabia and Russia, which whom the US has traditionally had delicate relationships.
