Almost 30 per cent of the crude oil and nearly 41 per cent of the natural gas in the US Gulf of Mexico remained shut on Saturday following Hurricane Francine, the US offshore energy regulator said.

Francine churned through prime oil and gas-producing areas in the US Gulf of Mexico and slammed into Louisiana with up to 100 miles per hour (161 kph) winds. The midweek storm toppled trees, flooded coastal areas, and knocked out power across four states. There were some 37,000 customers in Louisiana without power on Saturday.

The Bureau of Safety and Environmental Enforcement estimated the number of oil production and natural gas remaining offline as a result of Hurricane Francine to be in excess of 522,000 barrels of oil production and 755 million cubic feet of natural gas.

BSEE put estimates of cumulative losses in offshore productions for this week due to Francine at 1.82 million barrels of crude oil and 4.12 billion cubic feet of natural gas.

The peak of 171 evacuated offshore platforms this week has decreased down to Saturday when 52 oil and gas platforms left unmanned by energy workers are reported, representing around 14 per cent of the total, according to the offshore regulator.

Chevron said that two of the company's platforms were running at lower rates because of a disruption to an onshore gas plant. The company said full production will be restored to the two- Jack/St. Malo and Big Foot - once the onshore disruption is corrected.

Chevron refused to name the operator of the gas plant.

The second-largest US oil producer said it was continuing to return workers and restore oil production at its Anchor and Tahiti platforms that were shut in ahead of hurricane Francine. Neither platform suffered significant damage, Chevron said in initial assessments.

Almost 30 per cent of the crude oil and nearly 41 per cent of the natural gas in the US Gulf of Mexico remained shut on Saturday following Hurricane Francine, the US offshore energy regulator said.

Almost 30 per cent of the crude oil and nearly 41 per cent of the natural gas in the US Gulf of Mexico remained shut on Saturday following Hurricane Francine, the US offshore energy regulator said. Francine churned through prime oil and gas-producing areas in the US Gulf of Mexico and slammed into Louisiana with up to 100 miles per hour (161 kph) winds. The midweek storm toppled trees, flooded coastal areas, and knocked out power across four states. There were some 37,000 customers in Louisiana without power on Saturday. The Bureau of Safety and Environmental Enforcement estimated the number of oil production and natural gas remaining offline as a result of Hurricane Francine to be in excess of 522,000 barrels of oil production and 755 million cubic feet of natural gas. BSEE put estimates of cumulative losses in offshore productions for this week due to Francine at 1.82 million barrels of crude oil and 4.12 billion cubic feet of natural gas. The peak of 171 evacuated offshore platforms this week has decreased down to Saturday when 52 oil and gas platforms left unmanned by energy workers are reported, representing around 14 per cent of the total, according to the offshore regulator. Chevron said that two of the company's platforms were running at lower rates because of a disruption to an onshore gas plant. The company said full production will be restored to the two- Jack/St. Malo and Big Foot - once the onshore disruption is corrected. Chevron refused to name the operator of the gas plant. The second-largest US oil producer said it was continuing to return workers and restore oil production at its Anchor and Tahiti platforms that were shut in ahead of hurricane Francine. Neither platform suffered significant damage, Chevron said in initial assessments.

Close to 30% of US Gulf of Mexico oil production halted due to storm

Oil prices steadied on Friday after a market rout driven by sharp falls in equity markets and indications that supply concerns have been overblown, but were still on track for a fall or more than 4 per cent for the week.

Brent crude futures edged up 13 cents to $80.39 a barrel by 0042 GMT. The contract fell 3.4 per cent on Thursday, after hitting a low of $79.80, its weakest since September 24.

US West Texas Intermediate (WTI) crude futures were up 11 cents at $71.08 a barrel, after falling 3 per cent in the previous session to the lowest since Sept. 21.

Wall Street extended its slide into a sixth session and a global equity index fell to a 1-year low on Thursday as investors feared an escalating US trade war with China and risks from a recent climb in interest rates.

Japan's Nikkei was slightly lower in early trading on Friday.

On the oil front, US crude inventories rose by 6 million barrels last week, the Energy Information Administration said, more than double analysts' expectations of a 2.6 million-barrel increase.

The Organization of the Petroleum Exporting Countries cut its forecast of global demand growth for oil next year for a third straight month, citing headwinds facing the broader economy from trade disputes and volatile emerging markets.

OPEC sees the oil market as well supplied and is wary of creating a glut next year, the group's secretary-general said on Thursday.

In the US Gulf of Mexico, producers had cut output by 40 per cent on Thursday due to Hurricane Michael, according to the Bureau of Safety and Environmental Enforcement, even as some operators began returning crews to offshore platforms.

The cuts represent 680,107 barrels per day of oil production, the bureau said, citing reports from 30 companies.

Michael crashed ashore Florida on Wednesday as the third most powerful hurricane to strike the US mainland, leaving seven people least. It has since weakened to a tropical storm.

Oil prices steadied on Friday after a market rout driven by sharp falls in equity markets and indications that supply concerns have been overblown, but were still on track for a fall or more than 4 per cent for the week.

Oil prices steadied on Friday after a market rout driven by sharp falls in equity markets and indications that supply concerns have been overblown, but were still on track for a fall or more than 4 per cent for the week. Brent crude futures edged up 13 cents to $80.39 a barrel by 0042 GMT. The contract fell 3.4 per cent on Thursday, after hitting a low of $79.80, its weakest since September 24. US West Texas Intermediate (WTI) crude futures were up 11 cents at $71.08 a barrel, after falling 3 per cent in the previous session to the lowest since Sept. 21. Wall Street extended its slide into a sixth session and a global equity index fell to a 1-year low on Thursday as investors feared an escalating US trade war with China and risks from a recent climb in interest rates. Japan's Nikkei was slightly lower in early trading on Friday. On the oil front, US crude inventories rose by 6 million barrels last week, the Energy Information Administration said, more than double analysts' expectations of a 2.6 million-barrel increase. The Organization of the Petroleum Exporting Countries cut its forecast of global demand growth for oil next year for a third straight month, citing headwinds facing the broader economy from trade disputes and volatile emerging markets. OPEC sees the oil market as well supplied and is wary of creating a glut next year, the group's secretary-general said on Thursday. In the US Gulf of Mexico, producers had cut output by 40 per cent on Thursday due to Hurricane Michael, according to the Bureau of Safety and Environmental Enforcement, even as some operators began returning crews to offshore platforms. The cuts represent 680,107 barrels per day of oil production, the bureau said, citing reports from 30 companies. Michael crashed ashore Florida on Wednesday as the third most powerful hurricane to strike the US mainland, leaving seven people least. It has since weakened to a tropical storm.

Oil prices hold ground, but set for 4 per cent weekly fall

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Close to 30% of US Gulf of Mexico oil production halted due to storm

Oil prices hold ground, but set for 4 per cent weekly fall