Lates News

As Category 3 Hurricane Isaias approaches the U.S. Gulf Coast, local oil producers have suspended approximately 1.46 million barrels per day of crude production, accounting for 72% of the region's total output. The U.S. Bureau of Ocean Energy Management said that as of 12:00 noon Eastern Time on Friday (0:00 Beijing Time on October 10), workers have been evacuated from 129 offshore platforms, and two mobile drilling rigs have been moved out of the storm's path. BP has shut in production at the Thunder Horse and Na Kika platforms and evacuated non-essential personnel from three other platforms. The supply disruption has pushed up Gulf of Mexico crude prices, with Mars crude trading at a premium of about $3 per barrel to WTI, and Thunder Horse crude at a premium of more than $4 per barrel for two consecutive trading days.