Record Hurricane Season Wipes Out Most Offshore Oil in a Decade
- Busiest-ever hurricane season took 41 million barrels offline
- That’s roughly like having Republic of Congo shut since June
This article is for subscribers only.
It’s the year of the unprecedented and the hurricane season has been no exception.
A record-breaking hurricane season shut in an OPEC-nation amount of oil during a global pandemic that decimated demand and sent crude stockpiles soaring. Between tropical storm Cristobal in early June and the latest Greek alphabet soup of tempests disrupting oil platforms in the Gulf, offshore drillers have had to shut about 41 million barrels of production, the most in government data going back to 2010.