Hurricane Disrupts Nearly 40% of US Gulf of Mexico Crude Oil and Natural Gas Production
Wednesday, 11 September 2024, 11:24
Impact of Hurricane on Oil and Gas Production
As hurricane Francine nears the Louisiana coast, nearly 40% of crude oil production in the U.S. Gulf of Mexico has been curtailed. This disruption also affects 49% of natural gas output.
Key Statistics and Implications
- 39% of crude oil shut-in
- 49% of natural gas output impacted
- Potential for price volatility in markets
Analysts warn that such significant production shut-ins could have cascading effects on supply chain dynamics and energy pricing.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.