Almost all US Gulf oil output shut for Gustav-MMS

NEW YORK Sun Aug 31, 2008 7:11pm BST

NEW YORK Aug 31 (Reuters) - Oil companies operating in the U.S. Gulf of Mexico have shut down 96.3 percent of crude oil production and 82.3 percent of natural gas production ahead of the arrival of Hurricane Gustav, a U.S. government agency said Sunday.

The Minerals Management Service said 1.251 million barrels per day of crude oil output and 6.086 billion cubic feet per day of natural gas production in the Gulf had been shut down as of 1130 CDT (1630 GMT).

Personnel from 86 drilling rigs of 121 rigs in the Gulf had also been evacuated, the MMS said. (Reporting by Robert Campbell)


After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.