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 $C 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.
