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Just in time for $100 oil, a new wave of offshore platforms is coming online — but not enough to close the supply gap
Workers on the Shell Vito offshore oil platform docked at Kiewit Offshore Services while under construction in Ingleside, Texas, on April 6, 2022
Paul Takahashi
A new wave of oil platforms is sweeping into the U.S. Gulf of Mexico as crude prices are riding historic levels and demand for barrels is higher than ever.
But don’t count on the new production to close the oil-supply gap that has plagued the world’s economies since the pandemic. Even with the new platforms coming online, Gulf oil production won’t grow substantially in the coming years as mature fields decline, according to analysts.
Gulf of Mexico Oil Drilling Makes Too-Little, Too-Late Comeback – Bloomberg
