94.6% or 1.72 million barrels per day of crude oil production in the Gulf of Mexico has been shut following the Hurricane Ida, according to the U.S. Bureau of Safety and Environmental Enforcement.
OPEC+ will hold the meeting this week and are expected to discuss the increase of oil output.
Later today, the American Petroleum Institute (API) will report U.S. oil inventories data for the week ending August 27.
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