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Shell, Anadarko, Exxon cut Texas Gulf coast production ahead of storm

Published 08/24/2017, 09:21 AM
© Reuters.  Shell, Anadarko, Exxon cut Texas Gulf coast production ahead of storm
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  • Royal Dutch Shell (LON:RDSa) (RDS.A, RDS.B), Anadarko Petroleum (NYSE:APC) and Exxon Mobil (NYSE:XOM) say they are curbing some oil and gas production at facilities in the Gulf of Mexico and on the Texas Gulf coast in preparation for tropical storm Harvey.
  • As of 7 a.m., the NOAA measured tropical storm force winds at a maximum speed of ~60 mph, and the storm may strengthen into a Category 1 hurricane by the time it makes landfall near Corpus Christi on Friday.
  • The storm is expected to linger over the area for days, bringing a dangerous combination of rainfall and storm-surge flooding to areas near the Texas and Louisiana coasts into the weekend or early next week.
  • Crude oil prices are steady so far today after rising yesterday.
  • ETFs: USO, OIL, UWT, UCO, DWT, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM, OILK, WTIU, OILX, WTID, USOI
  • Now read: Exxon Mobil - Worried About A Drop? Don't Be

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