OPEC provides market assurances post-Harvey

6 Sep 2017   OPEC

Hurricane Harvey hit the United States after two years of oil sector declines and OPEC is ready to ensure the market is stable, its secretary general said. Parts of the U.S. oil and gas sector were sidelined by the impact of the first major hurricane to hit Texas in about a decade. In its latest update, the U.S. Department of Energy said eight refineries in the region were in the process of restarting. As of 3 p.m. EDT, Thursday, the Energy Department said there were 10 refineries closed in the Gulf Coast region, representing about 16.6 percent of the total U.S. refining capacity. The latest federal report added that four refineries were operating at reduced rates. Some production centers, meanwhile, […]

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