Oil Imports Soar: U.S. oil imports surged...

Oil Imports Soar: U.S. oil imports surged to record levels in January because of extremely cold weather, the American Petroleum Institute reported. Total imports of crude and refined products jumped 14.5% to 9.13 million barrels per day from 7.98 million barrels per day in January, 1989, the first time since 1977 that imports exceeded 9 million barrels per day, the institute said. Imports accounted for 54% of domestic deliveries, surpassing the previous high of 51.8% set in both March and July of 1977.