• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 2 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 1 day How Far Have We Really Gotten With Alternative Energy
  • 9 days What fool thought this was a good idea...
  • 12 days Why does this keep coming up? (The Renewable Energy Land Rush Could Threaten Food Security)
  • 7 days A question...
  • 12 days They pay YOU to TAKE Natural Gas
  • 18 days The United States produced more crude oil than any nation, at any time.
SPR Levels Remain Low

SPR Levels Remain Low

Despite claims, the U.S. has…

Will OPEC+ Extend Oil Production Cuts?

Will OPEC+ Extend Oil Production Cuts?

OPEC+ is likely to keep…

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Premium Content

Hurricanes Led To Steepest Fall In Gulf Of Mexico Oil Production Since 2008

Offshore

Crude oil production in the U.S. Gulf of Mexico dropped in August by the largest amount compared to the previous month since September 2008, due to shut-ins because of Hurricanes Marco and Laura, the Energy Information Administration (EIA) said on Wednesday.

In August, Gulf of Mexico’s crude oil production declined by 27 percent, or by 453,000 barrels per day (bpd), compared to July, the EIA has estimated.

Total crude oil production in the Gulf of Mexico averaged 1.2 million bpd in August 2020, which was the lowest production rate in almost seven years.  

Hurricanes Marco and Laura made landfall on the Gulf coast three days apart in late August and increased the magnitude of shut-ins as operators were pumping reduced volumes of crude oil for 15 days, the EIA said.

So far this year, five hurricanes and one tropical depression have disrupted oil production in the Gulf of Mexico as this year’s Atlantic hurricane season became the most active on record with 30 named storms. So many were the storms this year that the National Hurricane Center ran out of the planned names and started to refer to them as Greek letters.

The latest hurricane that resulted in shut-ins in the Gulf of Mexico was Zeta, which forced the shut-in of 66.6 percent of crude oil production in the Gulf of Mexico on October 28, with 228 platforms evacuated.

The record Atlantic hurricane season on record forced operators in the Gulf of Mexico to shut in production of a combined 41 million barrels of oil throughout the season—the highest shut-ins in data dating back to 2010.

According to Bloomberg’s estimates, the shut-ins of oil production throughout this hurricane season were equal to 270,000 barrels per day (bpd), or roughly the daily production of small OPEC producer Congo.

Gulf of Mexico oil production recovered to average 1.73 million bpd in September, but then fell to 1.29 million bpd in October because of Hurricanes Delta and Zeta. EIA expects crude oil production in the GOM to recover to 1.92 million bpd by December and to average 1.71 million bpd this year.

By Tsvetana Paraskova for Oilprice.com

ADVERTISEMENT

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News