The media examined oil prices closely in late September and evaluated the impact of hurricanes Katrina and Rita on the US oil supply.
Reports noted that US refineries were still not up to full capacity and that production in the Gulf of Mexico was at a near standstill, fanning concerns about the cost and supply of heating oil this winter. While optimists hoped imports would increase supply, others cautioned that a strike at Total in France could put more than half of French output at risk.
Most frequent messages
1. Up to 15% of US refining capacity could be out for another few weeks
2. Crude output in the Gulf remains substantially suspended
3. Heating oil is cause for concern as winter approaches
4. Strike in France could make supply matters worse
5. The full impact of Hurricanes Katrina and Rita is yet to be determined
Based on US media coverage appearing September 29-30, 2005
Evaluation and analysis by CARMA International