The analysis is best broken into three parts: crude oil production, transportation and storage of oil and gasoline. Crude Oil ProductionHurricane Harvey and the flooding that has followed are probably not major disruptions to crude oil production or supplies. Chesapeake Energy is cutting back on crude oil production until refineries in Houston and the Gulf Coast come back online. Even in the short term, suspension of some fracking activities will have an impact on global crude oil stocks . However, imports and exports of crude oil, oil products, and liquefied natural gas are all leaving and entering ports in Louisiana normally.

Source: Forbes August 28, 2017 17:55 UTC