News: September 19, 2021. Oil Production in the Gulf of Mexico Still Down Following Hurricane

Picture Steemit SteemLeo World Finance.jpg

The United States oil production from the Gulf of Mexico is down by 28%, two weeks after the Hurricane Ida, as reported by this article. This has led to an increase in oil prices of about 5%. The price of oil was US$ 69.21 before the hurricane and now it is US$ 72.62.

It has been estimated that it may take till October for the full production to be restored. This supply disruption is the reason by the oil prices have increased.

In addition to the oil supply disruption, there is also a decline of natural gas production from the US Gulf of Mexico of about 39%.

This post is intended to only raise awareness. In order to make actual financial decisions please contact your financial advisor and/or tax advisor prior to making the decision.
H2
H3
H4
3 columns
2 columns
1 column
1 Comment
Ecency