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Offshore regulator the Bureau of Safety and Environment Enforcement (BSEE) said oil exploration companies have turned off daily production in the Gulf of Mexico by about 718,877 bbls of oil, representing 42 pct of production in the Gulf, and 812 mil cubic feet of natural gas by midday on Wednesday ahead of Hurricane Michael. Wednesday’s cuts represent about 6.5 pct of the U.S. daily production of 11.1 mil bpd. Michael, the fiercest storm to hit Florida in a quarter century and the third-most powerful ever to strike the U.S. mainland, struck the state’s Gulf coast on Wednesday. The Category 4 hurricane made landfall early in the afternoon near Mexico Beach, about 32 km southeast of Panama City in Florida, with top sustained winds reaching 249 kph. The National Hurricane Center said the storm was downgraded hours later with winds of 150 kph as the eye moved across southwestern Georgia.

The U.S. Energy Information Administration said in its Short Term Energy Outlook report that crude production in the country is expected to rise 1.39 mil bpd to 10.74 mil bpd this year, compared to its last month report of 1.31 mil bpd increase to 10.66 mil bpd. Production is expected to average 11.03 mil bpd in the third quarter of this year. The agency also expected production in 2019 to grow more quickly than previously forecast, rising 1.02 mil bpd to 11.76 mil bpd, compared with growth of 840,000 bpd to 11.50 ml bpd in last month report.

The head of Libya’s state-owned National Oil Corp, Mustafa Sanalla, said on Wednesday that the country is producing 1 mil bpd of oil on average and plans to increase output. Sanalla said output climbed to as much as 1.3 mil bpd earlier in 2018. The OPEC member’s before the civil war pumping around 1.6 mil bpd.

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