Major Disruption in U.S. Gulf of Mexico Energy Production After Hurricane Francine
As a top investment manager and financial market journalist, I bring you the latest update on the impact of Hurricane Francine on U.S. Gulf of Mexico energy production. According to the Bureau of Safety Engineering and Enforcement, nearly 30% of oil production and 41% of natural gas production in the region remained offline on Saturday.
A staggering 522,000 barrels of oil per day and 755 million cubic feet of natural gas are currently offline due to the storm. Energy workers have evacuated 52 oil and gas platforms, significantly down from the peak of 171 platforms earlier in the week.
Analysis: This disruption in energy production in the U.S. Gulf of Mexico could have far-reaching consequences on global oil and gas prices. Investors should monitor the situation closely as it may impact their portfolios and financial decisions. Stay informed and stay ahead in the financial markets.