Producers shut-in 82% of Gulf of Mexico oil output due to storms

Oil and gas producers have shut-in 1.5 million barrels per day of oil production in the U.S. Gulf of Mexico, or roughly 82% of its total output, ahead of back-to-back tropical storms this week, according to figures released on Monday from the Bureau of Safety and Environmental Enforcement.

Some 1,542 million cubic feet per day of natural gas production was shut-in as well, accounting for almost 57% of total output. Firms began shutting in production on Friday in preparation for Tropical Storms Marco and Laura, which were both making their way to the U.S. Gulf of Mexico in a rare hurricane season event.