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Hurricane Ida, which swept through Louisiana in late August, has resulted in oil supply losses of 30 million barrels so far, leading to the world’s first drop in oil supply in five months and pushing global stocks down, the International Energy Agency (IEA) said Tuesday.
Initially, Hurricane Ida blocked up to 1.74 million barrels per day (bpd) of crude oil production, or 95.65% of the total crude pumped from the Gulf of Mexico in the United States. On the day the hurricane made landfall, a total of 288 production platforms in the Gulf of Mexico were evacuated. It was more than half of the manned platforms in the Gulf.
Due to the severity of the storm and the damage identified at some offshore platforms and facilities, crude oil production in the Gulf of Mexico was slow to restart.
Two weeks after Hurricane Ida made landfall in Louisiana on August 29, a total of 43.60% of Gulf of Mexico oil production, or 793,522 bpd, was still closed as of September 13, according to data. of the Bureau of Safety and Environmental Enforcement. (BSEE).
“Unexpected blackouts in August forced supply for the first time in five months and prolonged the sharp decline in global oil stocks. end of August, cutting 1.7 mb / d offline, ”the IEA said in its September oil market report released today.
The impact of Hurricane Ida “continues to cause problems for US and global markets,” the agency said.
“Offshore facilities and refineries have been slow to restart due to the severity of the storm, forcing massive drawdowns of crude and product inventory in key markets. mb, “noted the IEA.
By Tsvetana Paraskova for OilUSD
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