🌀 🇺🇸 🛢 Hurricane Shuts 63% Of US Gulf Oil Output, Threatens Refineries; Jefferies Warns Of "Fuel Supply Event"

Bloomberg cites data from the Marine Minerals Administration showing US Gulf offshore oil producers have halted about 1.28 million barrels per day, equivalent to shutting in 63% of regional output.

Hurricane Isaias forced offshore oil and natural gas producers in the Gulf of America to halt a sizable amount of production as the Atlantic's first hurricane of the season churned toward the coast, with potential landfall impacts across portions of Louisiana, Mississippi, Alabama, and the Florida Panhandle.

Producers with offshore rigs have already shuttered 25% of crude output and 16% of NatGas production and evacuated workers from eight platforms and two rigs.

The disruption to offshore oil and NatGas rigs comes as a global refining crisis deepens, and there is little room for error in the US, as refineries operate near full capacity.

https://www.zerohedge.com/weather/25-us-offshore-gulf-oil-output-shut-hurricane-isaias-nears-threatens-refineries#google_vignette