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Hurricane Esyas Disrupts Gulf Oil
Hurricane "Esyas," a Category 3 storm, caused approximately 72% of oil production in the Gulf of Mexico to come to a halt, equivalent to about 1.46 million barrels per day, after evacuating workers from 129 offshore platforms and suspending production operations. The hurricane also disrupted supply from offshore fields and sharply increased shipping costs, with the chartering of a supertanker to export American oil to Asia costing around $79 million. This reduces the profitability of oil exports and impacts global demand.
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