Storm-related oil and natural gas shut-ins will probably increase significantly this year from the meagre volumes reported in 2013, despite the potential for a slow 2014 Atlantic hurricane season, according to the US Energy Information Administration (EIA). Storms this year should curb oil and natural gas production from the US Gulf of Mexico by 11.6mn bl and 29.7 Bcf (841mn m3), respectively, the EIA said yesterday in its Short-Term Energy Outlook. There is a 69pc chance that those volumes will exceed the 3.1mn bl of oil and 6.7 Bcf of gas shuttered in the 2013 season.
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