Crude Production Took a Hit from Hurricane Laura
September 8, 2020
Due to Hurricane Laura, Crude Oil Production decreased by 1.1 million barrels per day to 9.7 million barrels per day, according to the latest EIA supply/demand report.
A large crude stocks draw was also reported, and yet prices fell as it became clear that the sharp drop in domestic crude supplies and production would be temporary. The production in the Gulf of Mexico appears to be quickly recovering after Hurricane Laura, so prices sold off.
The chart below can be constructed in the Fundamental Analytics platform under Fundamentals > DOE > Crude Oil > Production.
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The Fundamental Analytics Team
The information provided here is for general informational purposes only and should not be considered individualized investment advice. All expressions of opinion are subject to change without notice in reaction to shifting market conditions.