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Governors Wind Energy Coalition Big Freeze in Texas Is Becoming a Global Oil Market Crisis Source: By Alex Longley, Bloomberg • Posted: Thursday, February 18, 2021 What began as a power issue for a handful of U.S. states is rippling into a shock for the world’s oil market. More than 4 million barrels a day of output almost 40% of the nation’s crude production is now offline, according to traders and executives. One of the world’s biggest oil refining centers has seen output drastically cut back. The waterways that help U.S. oil flow to the rest of the world have been disrupted for much of the week. ....
Texas Freeze Ignites Worldwide Crisis in Oil Market The supply chain has lost more than four million barrels per day, with refineries also slashing fuel production. February 19, 2021 HOUSTON What started as a power grid situation for some southern U.S. states has triggered a crisis across the globe in the oil market, Bloomberg reports. Nearly 40% of the U.S. crude production more than four million barrels per day has been shuttered, according to officials and traders. One of the largest oil refining centers in the world has had to significantly reduce output, while access to the waterways that deliver U.S. oil to the world has been interrupted. ....
Big freeze in Texas becoming a global oil market crisis lmtonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lmtonline.com Daily Mail and Mail on Sunday newspapers.