Hurricane Isaias Shuts In 1.28 Million Bpd of Gulf Oil Production
Hurricane Isaias has knocked 1.28 million barrels per day of U.S. Gulf oil production offline, up from just 185,120 bpd two days ago as operators clear personnel from the storm’s path. The Marine Minerals Administration said Thursday that 62.89% of current Gulf oil production and 57.35% of natural gas production had been shut in based on operator reports submitted by 11 a.m. CDT. Operators…
Hurricane Isaias has caused significant disruption to oil production in the U.S. Gulf, with 1.28 million barrels per day (bpd) of output currently offline. The storm has forced operators to evacuate personnel from 121 production platforms, representing 32.61% of the Gulf's 371 manned platforms. This sudden shutdown comes after the situation was relatively stable two days prior, with only 9.24% of Gulf oil output and 3.36% of gas production affected.
As Isaias strengthens and moves towards the northern Gulf Coast, it poses a threat of storm surge up to 7 feet and heavy rainfall, with some areas potentially receiving 10 inches or more. The impact on oil markets is already evident, with WTI and Brent prices rising in response to the increased supply risk. The Marine Minerals Administration (MMA) will provide an update on the situation on Friday afternoon.
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