In addition to oil refineries being shut down the chemical industry has also had closures. ICIS has been tracking the situation and as of September 1st here is a list of sites that have been offline. In the chemical industry I suspect there to be more raw material shortages and force majeures hitting supply chains in the coming weeks. Hopefully the buyers further down the supply chain have enough inventory to get through the next few weeks. Get ready for higher prices in the short term.
That update was from August 31, and here's the update from ICIS:
HOUSTON (ICIS)--Over 75% of US Gulf oil production and natural gas production respectively remains offline as offshore producers continue to recover from the disruption in production caused by Hurricane Ida.
Currently, 76% of oil production and 77% of natural gas production in the Gulf of Mexico remains shut in, according to the US Bureau of Safety and Environmental Enforcement (BSEE).
Worth noting that there's an acrylonitrile plant that's been shutdown and has declared force majeure. Will be interesting to see when it starts back up.
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