U.S. DEFICIT $36.4 BLN
According to BEA, the U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $36.4 billion in September, down $4.0 billion from $40.5 billion in August, revised. September exports were $189.2 billion, $1.0 billion more than August exports. September imports were $225.6 billion, $3.0 billion less than August imports.
The September decrease in the goods and services deficit reflected a decrease in the goods deficit of $2.6 billion to $57.5 billion and an increase in the services surplus of $1.4 billion to $21.1 billion.
Year-to-date, the goods and services deficit decreased $9.2 billion, or 2.5 percent, from the same period in 2015. Exports decreased $60.5 billion or 3.5 percent. Imports decreased $69.7 billion or 3.3 percent.
The average goods and services deficit decreased $2.7 billion to $38.8 billion for the three months ending in September.
* Average exports of goods and services increased $2.1 billion to $187.9 billion in September.
* Average imports of goods and services decreased $0.6 billion to $226.7 billion in September.
The September figures show surpluses, in billions of dollars, with Hong Kong ($2.5), South and Central America ($1.8), United Kingdom ($0.9), Singapore ($0.7), and Brazil ($0.3).
Deficits were recorded, in billions of dollars, with China ($26.9), European Union ($11.7), Japan ($5.4), Germany ($5.3), Mexico ($4.8), Italy ($2.8), India ($2.2), South Korea ($1.4), OPEC ($1.2), France ($0.8), Taiwan ($0.5), Canada ($0.4), and Saudi Arabia ($0.1).
* The deficit with China decreased $2.2 billion to $26.9 billion in September. Exports increased $0.2 billion to $10.2 billion and imports decreased $2.1 billion to $37.1 billion.
* The deficit with France decreased $1.2 billion to $0.8 billion in September. Exports increased $0.6 billion to $2.9 billion and imports decreased $0.6 billion to $3.7 billion.
* The balance with Saudi Arabia shifted from a surplus of $0.8 billion in August to a deficit of $0.1 billion in September. Exports decreased $1.0 billion to $1.5 billion and imports decreased $0.1 billion to $1.6 billion.
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GAZPROM - The parties discussed relevant issues related to bilateral cooperation, including the Baltic LNG project. Emphasis was placed on the priority measures aimed at developing a joint design concept (pre-FEED).
BHGE - U.S. Rig Count is up 11 rigs from last week to 1,063, with oil rigs up 8 to 869, gas rigs up 4 to 193, and miscellaneous rigs down 1 to 1. Canada Rig Count is up 13 rigs from last week to 195, with oil rigs up 8 to 127 and gas rigs up 5 to 68.
REUTERS - Brent crude futures had risen $1.02 cents, or 1.3 percent, to $81.28 a barrel by 0637 GMT. The contract dropped 3.4 percent on Thursday following sharp falls in equity markets and indications that supply concerns have been overblown. U.S. West Texas Intermediate (WTI) crude futures were up 80 cents, or 1.1 percent, at $71.77 a barrel, after a 3 percent fall in the previous session. WTI is on track for a 3.5 percent drop this week.
EIA - Brent crude oil spot prices averaged $79 per barrel (b) in September, up $6/b from August. EIA expects Brent spot prices will average $74/b in 2018 and $75/b in 2019. EIA expects West Texas Intermediate (WTI) crude oil prices will average about $6/b lower than Brent prices in 2018 and in 2019.