[HOUSTON] Oil producers on Saturday shut 13 per cent of crude oil production ahead of tropical storms Laura and Marco that are forecast to grind up the Gulf of Mexico in coming days, US government data showed. Read more at The Business Times.
Producers halted 240,785 barrels per day of oil production and 119 million cubic feet per day of natural gas output before noon on Saturday, said regulator US Bureau of Safety and Environmental Enforcement .
Storm Marco on Saturday was packing 65 mile per hour winds, and was expected to become a Category One hurricane before making landfall in south-east Louisiana on Monday. Storm Laura is expected to become a Category One hurricane and reach the northern Gulf Coast a day or two after Marco. Unlike Hurricane Harvey, which struck the region three years ago, neither is expected to linger inland, he said, reducing risk of coastal flooding.
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