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 falls after Trump reverses Colombia sanctions threat

    By Anna Hirtenstein LONDON (Reuters) -Oil prices wavered on Monday after the U.S. and Colombia reached a deal on deportations, reducing immediate concern over oil supply disruptions but keeping traders…

    Dollar gains on tariffs fears; euro looks to ECB meeting

    Investing.com – The US dollar slipped lower Monday, rebounding after recent losses as attention returned to the potential for trade tariffs from the Trump administration at the start of a…

    Leave a Reply

    Your email address will not be published.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

    You Missed

    What Triggers a Currency Crisis? Examples from 2020 to 2025

    • May 16, 2025
    What Triggers a Currency Crisis? Examples from 2020 to 2025

    How Middle East Geopolitics Affects Oil-Linked Currencies?

    • May 16, 2025
    How Middle East Geopolitics Affects Oil-Linked Currencies?

    Can Bitcoin as a Reserve Asset Really Replace Gold?

    • May 16, 2025
    Can Bitcoin as a Reserve Asset Really Replace Gold?

    XAU/USD: Elliott Wave Analysis and Forecast for 16.05.25 – 23.05.25

    • May 16, 2025
    XAU/USD: Elliott Wave Analysis and Forecast for 16.05.25 – 23.05.25

    WTI Crude Oil: Elliott Wave Analysis and Forecast for 16.05.25 – 23.05.25

    • May 16, 2025
    WTI Crude Oil: Elliott Wave Analysis and Forecast for 16.05.25 – 23.05.25

    USD/JPY: Elliott Wave Analysis and Forecast for 16.05.25 – 23.05.25

    • May 16, 2025
    USD/JPY: Elliott Wave Analysis and Forecast for 16.05.25 – 23.05.25