More Than 90% Of Gulf Of Mexico Oil Production Shut In As Hurricane Approaches

More than 90% of all oil production in the U.S. Gulf of Mexico has been shut in ahead of the latest hurricane set to rip through offshore oil country, the BSEE said on Thursday afternoon. And the production cuts as a result are welcomed news as oil demand continues to press down on prices. The Bureau of Safety and Environmental Enforcement said on Thursday that 272 platforms have been evacuated, or 42% of all platforms in the Gulf of Mexico. That is in addition to 70% of all rigs and 88% of all dynamically posited rigs. In total, 91.53% of all…