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Hurricane Ian shuts in 11pc of Gulf oil output

From argusmedia.com

US offshore operators shut 11pc of Gulf of Mexico oil production as a precaution ahead of Hurricane Ian, which is expected to hit the west coast of Florida Wednesday evening. About 190,358 b/d of offshore oil output was off line as of 12:30pm ET, according to the Bureau of Safety and Environmental Enforcement (BSEE), and 184mn cf/d of natural gas production. A total of 12 platforms were evacuated. Although the storm is the first major hurricane of the season to threaten the mainland US, it is expected to spare the majority of oil and gas facilities in the Gulf, a region that accounts for about 15pc of US crude output ... (full story)

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  • Category: Fundamental Analysis