Hurricane Isaias Shuts In 71% of U.S. Gulf Oil Production

· Oil & Gas · United States

Hurricane Isaias has knocked nearly 1.46 million barrels per day of U.S. Gulf oil production offline, extending a rapid shutdown that began with just 185,120 bpd three days earlier. The Marine Minerals Administration said Friday that operators had shut in 1,458,814 bpd, or 71.51% of current Gulf oil production. The storm has also forced evacuations of offshore platforms, and the disruption is threatening fresh volatility in crude markets already on edge. Oil prices had retreated from $110 after President Donald Trump ruled out strikes on Iran before the mid-term elections, but the hurricane and recent tanker attacks in the Middle East are keeping supply risks elevated. The Gulf accounts for a large share of U.S. crude output, so the shut-ins tighten domestic supply and add to global market uncertainty.

Why it matters：A storm taking out most Gulf output shows how quickly weather can tighten global crude supply, and it compounds the supply risks already priced in from Middle East tensions.

Key points

  • Operators shut in 1,458,814 barrels per day, or 71.51% of Gulf oil production
  • The shutdown began with just 185,120 bpd three days earlier
  • Trump ruled out Iran strikes before midterms, pulling oil back from $110

Sources (original reporting)

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