US Sept oil output lowest since World War II -Govt
Reuters Business Channel | Reuters.com
By Tom Doggett
WASHINGTON, Oct 13 (Reuters) - U.S. crude oil production in September fell to the lowest monthly level since World War II as hurricanes Katrina and Rita disrupted oil output in the Gulf of Mexico, the Energy Information Administration said on Thursday.
September oil production averaged 4.197 million barrels per day, the lowest level since July 1943, when 4.117 million bpd was produced, the EIA said.
It was also the first time monthly output fell below 5 million bpd since April 1950, the agency said.
At one point, during the last week of September, 100 percent of U.S. oil output in the Gulf of Mexico, which normally averages around 1.5 million bpd, was shut in by the hurricanes.
About 69 percent, or just over 1 million bpd, in offshore oil production was still off line as of Thursday, the Interior Department said.
The EIA, which is the Energy Department's analytical arm, said it expected total domestic oil production to increase in the coming months as companies resume their offshore operations.
"September is going to be the bottom (output) month," senior EIA analyst Doug MacIntyre said.
The EIA did not expect Gulf oil production to return to normal until the end of next March.
Total U.S. monthly oil production will not top 5 million bpd again until January, the peak of the winter heating season, when it should average 5.134 million bpd, the agency said.
Imports are helping to replace some of the lost production.
U.S. crude oil imports averaged over 8.6 million bpd last week, up 500,000 bpd from the prior week, the EIA said on Thursday. Gasoline imports set a record for the second week in a row, averaging more than 1.4 million bpd, the agency said.
In response to higher energy prices after the hurricanes, demand for gasoline and other petroleum products fell 2.8 percent over the last four weeks compared to a year earlier, which has also limited the impact of lower oil production, the EIA said.
By Tom Doggett
WASHINGTON, Oct 13 (Reuters) - U.S. crude oil production in September fell to the lowest monthly level since World War II as hurricanes Katrina and Rita disrupted oil output in the Gulf of Mexico, the Energy Information Administration said on Thursday.
September oil production averaged 4.197 million barrels per day, the lowest level since July 1943, when 4.117 million bpd was produced, the EIA said.
It was also the first time monthly output fell below 5 million bpd since April 1950, the agency said.
At one point, during the last week of September, 100 percent of U.S. oil output in the Gulf of Mexico, which normally averages around 1.5 million bpd, was shut in by the hurricanes.
About 69 percent, or just over 1 million bpd, in offshore oil production was still off line as of Thursday, the Interior Department said.
The EIA, which is the Energy Department's analytical arm, said it expected total domestic oil production to increase in the coming months as companies resume their offshore operations.
"September is going to be the bottom (output) month," senior EIA analyst Doug MacIntyre said.
The EIA did not expect Gulf oil production to return to normal until the end of next March.
Total U.S. monthly oil production will not top 5 million bpd again until January, the peak of the winter heating season, when it should average 5.134 million bpd, the agency said.
Imports are helping to replace some of the lost production.
U.S. crude oil imports averaged over 8.6 million bpd last week, up 500,000 bpd from the prior week, the EIA said on Thursday. Gasoline imports set a record for the second week in a row, averaging more than 1.4 million bpd, the agency said.
In response to higher energy prices after the hurricanes, demand for gasoline and other petroleum products fell 2.8 percent over the last four weeks compared to a year earlier, which has also limited the impact of lower oil production, the EIA said.
posted by Marcel at 7:52 AM
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