North Dakota Oil Output Down Up to 650,000 BPD in Severe Storm

Severe weather conditions have cut oil production significantly in the American shale patch, with power outages, refinery shutdowns and production stoppages taking hundreds of thousands of barrels offline.  The winter storm has significantly impacted TotalEnergy’s Port Arthur, Texas, refinery, which was shut down last Friday due to a malfunction on the gasoline-producing fluidic catalytic cracker (FCC).  On Tuesday, Reuters reported that the winter storm has now led to a full power outage at the 238,000 barrel-per-day…