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OIL: Around 20% of Oil Production Remains Offline in the Gulf

OIL
BulletEnergy BulletsCommodities

Nearly a fifth of crude production and 28% of gas production remained offline in the US Gulf of Mexico following shutdowns for hurricane Francine according to the offshore energy regulator on Sunday.

  • Energy producers had 338,690 bpd of oil production and ~515 million cubic feet of natural gas offline.
  • Cumulative production losses from Francine amount to around 2.16mn bbls of oil and 4.635bcf of gas according to Reuters calculations.
  • Production levels in the Gulf have been recovering in recent days. 
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Nearly a fifth of crude production and 28% of gas production remained offline in the US Gulf of Mexico following shutdowns for hurricane Francine according to the offshore energy regulator on Sunday.

  • Energy producers had 338,690 bpd of oil production and ~515 million cubic feet of natural gas offline.
  • Cumulative production losses from Francine amount to around 2.16mn bbls of oil and 4.635bcf of gas according to Reuters calculations.
  • Production levels in the Gulf have been recovering in recent days.