Irma Makes Landfall, But Harvey Still Rules Oil Production- 11 September, 2017

As Hurricane Irma makes landfall in Florida and Hurricane Harvey has already left it’s damage in Texas, an estimated demand of 600,000 barrels a day of oil will be impacted. While Hurricane Irma is expected to leave a bigger mess than Hurricane Harvey, Harvey has caused more damage to the oil industry due to the fact that Texas consumes more oil per capita than Florida. Harvey affected roughly a quarter of the nations refining capacity by 6 percent as it remains shut down. Refinery outages are estimated at roughly 2.24 million barrels per day, all while oil prices soar and are currently up by 18 cents for West Texas Intermediate.