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CRAK - Hurricane Ida Collapses U.S. September Oil Production
VanEck Vectors Oil Refiners
U.S. September production decreased by 380 kb/d to 10,809 kb/d. The drop is largely due to Hurricane Ida’s impact on GOM production.
The GOM output dropped by 464 kb/d due to unexpected and extensive damage to platforms in the gulf.
In the on-shore lower 48, September production increased by 63 kb/d to 9,314 kb/d. The main contributor to this increase was Texas. Texas’ output offset some the GOM’s steep loss.