Millions of Barrels of Oil Out of Production Due to Hurricane Harvey

The experts say millions of barrels of oil have been taken out of the U.S. energy market by Hurricane Harvey and consequently gasoline prices will rise, not a matter of ‘if’ they rise.

S and P Global Platts says at least 2.2 million barrels a day of refining capacity has been lost since the storm started spinning in the Gulf of Mexico then plowed into Texas over the weekend. Refineries near Corpus Christi were closed before the storm hit the state. Houston-area refineries were shut down on Sunday as catastrophic flooding hit the city.

Reports indicate no damage so far at the refineries but it’s estimated 1.9 million barrels a day of oil refining capacity remains on hold.

Forbes listed the refineries that were closed as of Sunday night.



Company                                 Location                     Capacity (b/d)

ExxonMobil Baytown 560,500
Valero Corpus Christi 293,000
Citgo/PdVSA Corpus Christi 157,500
Flint Hills Corpus Christi 296,470
Magellan Corpus Christi 50,000
Buckeye Corpus Christi 50,000
Shell Deer Park 340,000
Pasadena/Petrobras Pasadena 112,229
Phillips 66 Sweeny 247,000
Valero Three Rivers 89,000

                                                                              Total 2,195,699



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