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• US crude production fell 750,000 b/d to just 8.78mn b/d for the week ending 1 September as Hurricane Harvey shut in swathes of output offshore Gulf of Mexico and from the Eagle Ford shale formation of southern Texas. This is the biggest weekly fall since the corresponding week in 2012, when Hurricane Isaac shut in 90% of offshore output (MEES, 3 September 2012). Prior to Harvey, Eagle Ford was producing 1.35mn b/d and the US Gulf of Mexico just over 1.7mn b/d.
• A measure of the extent of this year’s US output gains is that, even with last week’s losses, US output is still up by over 300,000 b/d year-on-year (see chart).