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Atlantic Hurricane Season Showing Signs of Picking Up

OIL

The Atlantic hurricane season is showing signs of picking up despite a slow season so far.

  • Hurricane activity historically peaks in mid-to-late September but this year has so far seen just 9 names storms.
  • Storms and hurricanes entering the Gulf of Mexico can cause significant disruptions to oil and gas production and refining on the US Gulf Coast. At peak storm activity a loss of 400kbpd of crude production is not unusual for a month with Sep21 losing 800kbpd due to storms.
  • S&P Global project an assumption for a seasonal loss, on average, of 75kbpd in 2022.

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The Atlantic hurricane season is showing signs of picking up despite a slow season so far.

  • Hurricane activity historically peaks in mid-to-late September but this year has so far seen just 9 names storms.
  • Storms and hurricanes entering the Gulf of Mexico can cause significant disruptions to oil and gas production and refining on the US Gulf Coast. At peak storm activity a loss of 400kbpd of crude production is not unusual for a month with Sep21 losing 800kbpd due to storms.
  • S&P Global project an assumption for a seasonal loss, on average, of 75kbpd in 2022.