US Gulf Coast refining and oil production shutdown as Hurricane Laura makes landfall

Oil

Refiners in the US Gulf Coast have been forced to take around 2.3M b/d of processing capacity offline following the continued threat posed by Hurricane Laura, which made landfall on Thursday as a category four storm, Reuters report. This is around 12% of the total US processing capacity. 

In its latest statement, the Bureau of Safety and Environmental Enforcement (BSEE) announced that around 1.56M b/d (or 84%) of crude oil production in the Gulf of Mexico has also been forced to shut, with 310 offshore facilities being evacuated.