Hurricane Harvey Forces Even More Texas Oil Refineries To Close
More refinery outages and port closures were reported on Tuesday. The storm has returned to the Gulf of Mexico and is now a Tropical Storm. Over four feet of rainfall has already hit cities like Corpus Cristi. As a result, S&P Global Platts estimates that around 2.33 million barrels a day of Texas refining capacity is now closed and with some refiners cutting production rates, that figure is likely to go even higher. If those cuts hit 50% of capacity, that would put the total downed capacity at 3.36 million barrels per day, meaning that 18% of the U.S. total oil supply is on hold.
A little thing like a Hurricane cut refinery production drastically...........but the op doesn't give a crap about that.