Fifth of US Gulf of Mexico crude oil and 28% of gas offline, regulator says

HOUSTON (Reuters) – Nearly a fifth of crude oil production and 28% of natural gas output in U.S. Gulf of Mexico federal waters remained offline in the aftermath of Hurricane Francine, the U.S. offshore energy regulator said on Sunday.

Francine tore through prime offshore oil and natural gas producing areas and slammed into Louisiana as a Category 2 hurricane on Wednesday. The storm toppled trees, flooded coastal areas and cut power in four southern states.

Energy producers had shut-in 338,690 barrels per day of oil production and nearly 515 million cubic feet of natural gas from Gulf waters, the Bureau of Safety and Environmental Enforcement estimated from producer reports.

This post is originally published on INVESTING.

  • Related Posts

    Oil steady as investors watch Trump 2.0 policies

    By Arathy Somasekhar (Reuters) – Oil prices were little changed in early trading on Wednesday as markets weighed U.S. President Donald Trump’s declaration of a national energy emergency on his…

    Asia FX extends fall on Trump tariff fears; ringgit jumps on BNM rate hold bets

    Investing.com – Most Asian currencies extended losses on Wednesday as investors remained cautious ahead of potential new U.S. tariffs under Donald Trump’s administration, while the Malaysian ringgit jumped on expectations…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    Revolut Automates Investment: Launches Robo-Advisor in Singapore

    • January 22, 2025
    Revolut Automates Investment: Launches Robo-Advisor in Singapore

    US Dollar Sets Stage for Tariffs. Forecast as of 22.01.2025

    • January 22, 2025
    US Dollar Sets Stage for Tariffs. Forecast as of 22.01.2025

    Interactive Brokers’ Q4 2024 Revenue Increased by 22%: Spent $9M on Ads

    • January 22, 2025
    Interactive Brokers’ Q4 2024 Revenue Increased by 22%: Spent $9M on Ads

    Oil steady as investors watch Trump 2.0 policies

    • January 22, 2025
    Oil steady as investors watch Trump 2.0 policies

    Asia FX extends fall on Trump tariff fears; ringgit jumps on BNM rate hold bets

    • January 22, 2025
    Asia FX extends fall on Trump tariff fears; ringgit jumps on BNM rate hold bets

    Oil prices steady as markets weigh Trump production outlook, tighter supplies

    • January 22, 2025
    Oil prices steady as markets weigh Trump production outlook, tighter supplies