February 2011 Crude Oil Imports Total $21.3 Billion

The latest numbers from the Commerce Department show that the trade deficit for February was $45.76 billion, down from $46.97 billion in January. Crude oil imports accounted for $21.13 billion, down from $24.51 billion in January.

The U.S. bill for crude oil imports in February fell to $21.13 billion from $24.51 billion the month before, despite a $2.83 jump in the average price per barrel to $87.17 -- its highest level since October 2008. That’s because crude import volumes tumbled to 242.37 million barrels from 290.67 million.

Source : Wall Street Journal