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Oil Production Down 78 Percent in Gulf of Mexico


The U.S. government says oil production in the Gulf of Mexico was nearly 80 percent below normal as of Saturday, five days after Hurricane Katrina tore through the region.

A report from the U.S. Minerals Management Service said Katrina had cut oil production in the Gulf by about 1.18 million barrels of oil per day. It said more than 280 offshore oil-drilling rigs and platforms remained evacuated.

The figures represent a slight improvement from Friday, when oil production in the Gulf was nearly 90 percent below normal.

Katrina's disruption to Gulf-area oil production and refineries has caused a spike in U.S. gasoline prices, and an increase in crude oil prices on world markets.

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