Gulf oil production takes a hit from record hurricane season 

The series of hurricanes this year pushed offshore oil production in the Gulf of Mexico down more than 25% in August to 1.2 million barrels per day, the Department of Energy reported today. 

As The Houston Chronicle reports, that represents the largest month-to-month drop since September 2008, when Hurricanes Ike and Gustav caused production to drop by more than 70% to less than 500,000 barrels per day.

In August, the back-to-back hits from Hurricanes Laura and Marco over a two-week period resulted in more than 80 percent of offshore production in the Gulf shut-in at some point, according to the U.S. Energy Information Administration.

This year has been a particularly active year for storm activity in the region. Thirty named storms have formed in the Atlantic Ocean, the most on record, resulting in Gulf oil and gas production being shut down six times. Read the full story.