Supply-side Crude Oil Void Won't Be Easy to Fill

June 22, 2022--Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--With lingering supply-side issues supporting commodity prices, a key driver of inflation, the U.S. government sees little relief coming from the Gulf of Mexico. The Gulf of Mexico accounts for slightly less than 10% of total U.S. crude oil production. That 10%, however, works out to be an average of 1.8 million barrels per day (BBL/d). By way of comparison, of the 13 members of the Organization of the Petroleum Exporting Countries (OPEC), only five of them can feasibly produce more than that.