DOE Says Oil Production Will Recover by November
Domestic oil production and refinery output should return to pre-hurricane levels by November, the Energy Department said, as repairs are made to damaged oil rigs and Gulf coast refineries. The department's statistical agency, the Energy Information Administration, said the recovery could vary, depending on the pace of repairs to damaged facilities. But barring unusually slow repairs, the agency said domestic oil production should return to just under 5.4 million barrels a day in November, the level in August before Hurricane Katrina disrupted most of the Gulf production and knocked out 10 Gulf coast refineries. The EIA said U.S. refining capacity also should rebound with an anticipated output of gasoline and other fuels of nearly 16.4 barrels a day in November, the same as August levels. EIA director Gary Caruso, testifying before a House committee examining the energy impacts of Hurricane Katrina, said the forecast would depend on the timing and pace of repairs to oil platforms and refineries.
This news release was submitted by Barry Ashby, Industrial Heating Washington Editor