U.S. Oil Output Drops by Most on Record After Hurricane Ida
- Production fell 1.5 million barrels a day to a six-month low
- Three-fourths of U.S. Gulf oil, gas production still offline
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Even the deadly Texas freeze didn’t do as much damage to oil production as Hurricane Ida.
The historic storm, which swept through the Gulf of Mexico almost two weeks ago, drove a record 1.5 million-barrel decline in daily crude output, according to weekly data from the Energy Information Administration going back to 1983. Nearly three-fourths of U.S. Gulf oil output was still offline as of Thursday.