Up to 25 named storms for this year's hurricane season could wreak more havoc on the American oil and gas industry than ever before according to the U.S.
Up to 25 named storms for this year’s hurricane season could wreak more havoc on the American oil and gas industry than ever before, the Energy Information Administration EIA said on Wednesday in an in-depth analysis of weather’s effects on supply and demand. “The potential for a stronger hurricane season suggests heightened risk for weather-related production outages in the U.S.
The EIA warns that the more severe hurricane forecasts for this year could see oil and gas markets impacted by the potential disruption of crude oil production and refinery operations, with offshore installations of particular concern in the Gulf of Mexico. The agency also warns of the risk of flooding and disruption at offshore floating production facilities and refinery operations.
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