Hurricane Ida hits US oil industry

Oil

Around 2.3M b/d (or 13%) of US crude oil refining capacity has been forced offline after Hurricane Ida made landfall along the US Gulf Coast on Sunday, with widespread flooding and power outages continuing to disrupt efforts to restore operations, Reuters report. According to the most recent report from the US Bureau of Safety and Environmental Enforcement (BSEE) as much as 1.72M b/d (or 95%) of crude production in the Gulf of Mexico has also been shut in, with 288 offshore platforms currently evacuated.