A relentless 2024 hurricane season caused substantial disruptions to US energy infrastructure, particularly in the Gulf of Mexico, highlighting the region's vulnerability to storm damage.
The 2024 hurricane season was exceptionally active, with 18 named storms and 5 major hurricanes. This above-average storm activity, including Category 3 hurricanes Helene and Milton, caused significant disruptions to the U.S. energy infrastructure, particularly in the Gulf of Mexico. Hurricanes Helene and Milton impacted power grids, petroleum supply chains, and inland states as they moved north.
While the storms largely spared major offshore oil and gas hubs near Texas and Louisiana, precautionary shutdowns were implemented. Production losses reached 295,000 barrels of crude oil per day (16% of federal output) and 0.20 billion cubic feet of natural gas per day (11% of production) by September. Hurricane Rafael in November, though weakened, also disrupted operations, forcing further shut-ins. While the energy industry quickly recovered, the hurricanes highlighted the region's vulnerability to storm damage. The EIA forecasts higher Henry Hub spot prices in 2025, with Q1 averages predicted at $3.16/MMBtu
HURRICANE ENERGY INFRASTRUCTURE OIL PRODUCTION NATURAL GAS PRODUCTION GULF OF MEXICO
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