28 Percent Of Gulf Of Mexico Oil Production Still Offline Following Ida

Crude oil production in the United States had fallen sharply over the last two weeks in the wake of Hurricane Ida, but production for the next reporting period is on track to be down as well, as 28% of all crude oil production in the Gulf of Mexico still remains shut-in after the hurricane. Meanwhile, WTI prices have risen from $69.21 per barrel as the hurricane hit, to $72.62 today—a nearly 5% rise. Initially, the hurricane wiped out nearly all of the oil production in the Gulf of Mexico. Today—weeks later—28.24% of Gulf of Mexico…