Twin U.S. Gulf Coast storms move energy giants to deep production cuts

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# 02:25
25 August 2020

Energy companies moved to cut production at U.S. Gulf Coast oil refineries on Monday after shutting half the area’s offshore crude oil output as back-to-back storms took aim at the coast, APA reports quoting Reuters, APA reports quoting Reuters.

Tropical Storms Marco and Laura, a rare double-team assault on key U.S. oil regions, threaten to bring days of heavy rains and strong winds this week. Producers have shut more than 1 million barrels per day of Gulf Coast offshore oil production, 9% of the nation’s total output, facing a storm that is forecast to become a damaging Category 2 hurricane.

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THE OPERATION IS BEING PERFORMED