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Russia will increase its oil supplies to the United States in the next two months, taking advantage of the aftermath of Hurricane Ida: as power is restored in Louisiana and refineries are restarted, they will need more oil, the production of which has dropped significantly. Bloomberg reports.
According to the agency, Hurricane Ida influenced the US energy market is stronger than all other hurricanes: 77% of production in the Gulf of Mexico stopped even 10 days after the hurricane moved to the coast. However, as power returns to Louisiana and refineries restart, they will need more oil.
Meanwhile, in September and October, an increase in Russian oil imports should be expected: the Urals grade is similar to the grades produced in the Gulf of Mexico, so refineries often buy it. The US Department of Energy is also trying to soften Ida’s blow by channeling 1.8 million barrels of strategic reserves to fuel producers.