12142017Thu
Last updateThu, 14 Dec 2017 4pm

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End-User News

Gulf Coast Oil & Gas Operations Returning to Normal

According to the IEA’s latest Oil Market Report, disruption to local oil markets in the U.S. Gulf Coast is easing on a daily basis and its impact on global markets is likely to be relatively short-lived. Given the severity of the storm, it was inevitable that the normal output and distribution of products would be hampered, that local shortages would emerge, and prices would rise. Before the storm hit Texas, commercial stocks in the U.S. and in the Gulf Coast region were at comfortable levels. This was a good thing because the estimated loss of refinery output in September of about 1.6 mb/d has only partially been offset by lower demand. 

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