Gulf of Mexico output returns slowly

WITH operations at US Gulf of Mexico (GoM) facilities continuing to restart, North American production contributed half of the total increase in global oil supply in October, which rose by 0.865m barrels a day (b/d) to 84.4m b/d, according to the International Energy Agency (IEA). Nonetheless, the recovery of the GoM's oil industry following the recent hurricanes remains slow. In early November, 0.73m b/d of oil and 3.7bn cf/d of gas capacity were still shut in. The IEA forecasts that hurricane damage will continue to affect oil supply into 2006. The US department of the interior says it could be a year before oil output returns to pre-storm levels of 1.6m b/d. GoM production problems have b