Storm Rafael caused significant disruptions in the U.S. Gulf of Mexico, keeping over a quarter of the region's oil and 16% of natural gas production offline as of Sunday. About 10% of the Gulf’s manned platforms remain evacuated, with two drilling vessels displaced. Chevron and Shell have begun redeploying personnel and resuming operations. Total production losses to date reach over 2 million barrels of oil and over 1 billion cubic feet of natural gas. The storm was downgraded to a tropical storm and is forecasted to shift southward early this week.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Storm Rafael caused significant disruptions in the U.S. Gulf of Mexico,
00:06keeping over a quarter of the region's oil and 60% of natural gas production offline as of Sunday.
00:12About 10% of the Gulf's manned platforms remain evacuated, with two drilling vessels displaced.
00:18Chevron and Shell have begun redeploying personnel and resuming operations. Total production losses
00:23to date reach over 2 million barrels of oil and over 1 million cubic feet of natural gas.
00:29The storm was downgraded to a tropical storm and is forecast to shift southward early this week.