Hurricane Isaias Shuts 71% of U.S. Gulf Oil Production
Source Summary
Hurricane Isaias has forced the shutdown of 1.46 million barrels per day of U.S. Gulf oil production, representing 71.51% of current Gulf output, according to the Marine Minerals Administration. The shutdown also includes 1.26 billion cubic feet per day of natural gas, or 58.84% of Gulf gas production. Operators have evacuated 129 personnel from offshore facilities as the hurricane's impact continues to expand.
Why it matters
A 71% shutdown of U.S. Gulf oil production represents a major supply disruption that affects global energy markets and domestic fuel availability.
