8/28 Quarter of Gulf oil output offline

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  • About 25% of U.S. Gulf of Mexico oil production is offline due to Harvey, according to the U.S. Bureau of Safety and Environmental Enforcement.
  • Companies that have shuttered operations include, Valero (NYSE:VLO) Exxon (NYSE:XOM), ConcoPhillips (NYSE:COP), Noble (NYSE:NBL), Anadarko (NYSE:APC) and Shell RDS.A, RDS.B.
  • Harvey slammed into Texas late Friday as a Category 4 hurricane, making it the strongest storm to hit the state since 1961, but was downgraded to a tropical storm on Saturday by the National Hurricane Center.
  • ETFs: USO, OIL, UWT, UCO, DWT, SCO, BNO, DBO, UGA, DTO, USL, DNO, OLO, SZO, OLEM, OILK, WTIU, OILX, WTID, USOI