Hurricane Laura Halts Crude Oil Production in the Gulf of Mexico
August 31, 2020
Hurricane Laura has forced the evacuations of crews from offshore platforms in the Gulf of Mexico. It has been estimated that around 1.6 million barrels per day of offshore crude oil production has been halted. It entails a loss of about 84% of U.S. offshore crude oil production in the Gulf of Mexico. Additionally, producers have halted about 1.65 billion cubic feet per day of natural gas production from the Gulf of Mexico. We will update the production chart below once the storms have end.
The chart below can be constructed in the Fundamental Analytics platform under Fundamentals > DOE > Crude Oil > Production > Domestic Production > Total US.
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The Fundamental Analytics Team
The information provided here is for general informational purposes only and should not be considered individualized investment advice. All expressions of opinion are subject to change without notice in reaction to shifting market conditions.