Texas deep freeze hits energy sector; Houston ship channel shut ...Middle East

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A deep freeze that hit Texas over the weekend wrought more havoc on the U.S. energy sector on Tuesday, grounding operations at the Houston Ship channel and curbing output in the largest U.S. oil field in the Permian, while several of the biggest oil refineries remained offline. Historic subzero cold has knocked out about 3.3 million barrels per day of refining capacity, or about 18% of national capacity, according to Reuters calculations. About 500,000 to 1.2 million bpd of crude production has also been affected, and it could be weeks before it is fully restored, industry analysts said.

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Last updated : 17 February 2021 clock 12:30 AM

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