More than 95% of the Gulf of Mexico’s oil production has been shut down thanks to Hurricane Ida, regulators said Sunday, indicating the hurricane is having a significant impact on energy supply.
As of 11:30 a.m. CT, personnel have been evacuated from a total of 288 oil-and-gas production platforms, according to the Bureau of Safety and Environmental Enforcement. That represents about 51% of the manned platforms in the Gulf of Mexico.
The agency said all 11 rigs in the Gulf of Mexico have also been evacuated, and a total of 1.7 million barrels of daily oil production in the Gulf of Mexico has been shut-in – the equivalent to 95.7% of the region’s total output.
The widespread loss of oil supply from one of America’s energy hubs is likely to lift prices. US oil prices rose sharply last week ahead of Hurricane Ida’s arrival.
Oil futures are set to begin trading at 5 p.m. ET on Sunday.