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EIA expecting losses in Gulf Of Mexico in hurricane season

The agency expects around 19.3 million barrels of oil will be lost to storms in the season which began on 1 June and runs to 30 November

An active summer hurricane season is likely to increase weather-related shut-ins in the Gulf of Mexico (GOM), the US Energy Information Administration (EIA) said in its latest Short Term Energy Outlook.The EIA expects a median estimate of 19.3 million barrels of oil and 46.4 billion cubic feet (cf) of natural gas will be lost to storms in what is expected to be an active hurricane season, which began on 1 June and runs to 30 November. In 2012, which was also an above-average year, GOM  producers shut in a cumulative 14.3m barrels of oil and 32bn cf of gas. The EIA pegged a 58% probability of even higher levels of disruption in 2013, and gave a 50/50 chance that lost volumes will be higher or

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