Significant US Gulf Oil Production Capacity Remains Offline in the Wake of Hurricane Nate
Around 59% of US Gulf of Mexico oil production is still offline in the aftermath of Hurricane Nate, according to the US Department of the Interior's Bureau of Safety and Environmental Enforcement, Reuters reports. This is equivalent to about 1.02M b/d out of a total US Gulf capacity of nearly 1.8M b/d. Presently, 66 platforms and one oil rig remain evacuated, which represent 9% of the total platforms and 5% of the total US Gulf rigs respectively. That being said, offline capacity is continuing to diminish and Nate appears to have caused no damage to oil infrastructure.