Prices for WTI crude remain record high due to the destructions after Hurricane Katrina
Prices for WTI crude remain record high due to the destructions after Hurricane Katrina.
The Minerals Management Service reported Monday 1.4 million barrels of oil and 8.3 billion cubic feet of natural gas were offline in the Gulf of Mexico as a result of Katrina.
?Today?s shut-in oil production is 1,427,969 BOPD. This shut-in oil production is equivalent to 95.20% of the daily oil production in the GOM, which is currently approximately 1.5 million BOPD.?
?Today?s shut-in gas production is 8.798 BCFPD. This shut-in gas production is equivalent to 87.99% of the daily gas production in the GOM, which is currently approximately 10 BCFPD.?
Around 95% of oil, and 89% of gas, production in the Gulf of Mexico has been shut in.