U.S. Gulf oil industry largely shut down as Isaac nears


HOUSTON (Reuters) - U.S. Gulf of Mexico oil production dropped by more than 90 percent and coastal refineries shut down on Tuesday as Hurricane Isaac approached the Louisiana coastline.

Government figures showed offshore oil output down by 1.3 million barrels per day from normal levels. Offshore gulf natural gas output was curtailed by two-thirds, and refinery and port closures added to the storm-related supply disruptions.

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