• 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
  • 12 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 1 day Does Toyota Know Something That We Don’t?
  • 4 days OPINION: Putin’s Genocidal Myth A scholarly treatise on the thousands of years of Ukrainian history. RCW
  • 21 hours World could get rid of Putin and Russia but nobody is bold enough
  • 3 mins America should go after China but it should be done in a wise way.
  • 4 days CHINA Economy IMPLODING - Fastest Price Fall in 14 Years & Stock Market Crashes to 5 Year Low
  • 3 days China is using Chinese Names of Cities on their Border with Russia.
  • 4 days Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 3 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 9 days huge-deposit-of-natural-hydrogen-gas-detected-deep-in-albanian-mine
  • 4 days Putin and Xi Bet on the Global South
  • 4 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"
  • 5 days United States LNG Exports Reach Third Place
  • 5 days Biden's $2 trillion Plan for Insfrastructure and Jobs

Breaking News:

Occidental Mulls $20B Asset Sale

Major Oil Companies Make Moves in Megamerger Frenzy

Major Oil Companies Make Moves in Megamerger Frenzy

Several high-profile mergers among oil…

U.S. Merger Boom Could Slow Shale Production Growth

U.S. Merger Boom Could Slow Shale Production Growth

Some private oil producers in…

U.S. Oil Drilling Activity Stalls

U.S. Oil Drilling Activity Stalls

The total number of active…

Irina Slav

Irina Slav

Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry.

More Info

Premium Content

Two-Thirds Of Gulf Oil Production Remains Shut In ahead Of Hurricane Zeta

As much as 66.6 percent of crude oil production in the Gulf of Mexico remained shut in on Wednesday ahead of Hurricane Zeta, with 228 platforms evacuated according to the latest update from the Bureau of Safety and Environmental Enforcement.

Oil field operators in the Gulf began evacuating staff from their production platforms earlier this week when Zeta was still a tropical storm.

Zeta is the fifth named storm and the latest hurricane during this year’s very active Atlantic hurricane season that has forced operators in the U.S. Gulf of Mexico to evacuate platforms and rigs and shut-in production. However, it has not yet led to as many shut-ins as the previous storm.

Earlier this month, Hurricane Delta forced the shut-in of more than 91 percent of oil production in the Gulf of Mexico at peak shut-ins. This made Delta more damaging to oilfield operators than Laura from earlier this year.

At its peak, Laura forced the evacuation of nearly half of the 643 offshore production platforms operating in the Federal Offshore Gulf of Mexico. The peak shut-in of crude oil production occurred on August 25, two days before Laura’s landfall, when 84 percent of the region’s average daily crude oil production in 2019 was shut in.

Zeta made landfall late on Wednesday in Louisiana as a Category 2 storm and continued moving north-northeast at a speed of 25 mph, according to the National Hurricane Center.

Oil production shut-ins in the Gulf of Mexico normally push prices higher, but this time the evacuations have failed to move benchmarks as the pressure from the fast rise in new Covid-19 infections remains stronger than pretty much any bullish news about oil. On Wednesday, Brent crude even slipped below $40 for a while, as pandemic updates continued to stoke fears about oil demand recovery.

By Irina Slav 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