US oil production (crude plus NGLs) rose by almost 200,000 b/d to 12.926mn b/d in September (see table, p21), the second highest figure ever behind the record 13.002mn b/d hit in April 2015. The latest Short Term Energy Outlook (STEO) of the US Government’s Energy Information Administration (EIA), had projected that this month would break the record. However this will not materialize in the wake of Hurricane Nate which shut down around 90% of crude production in the Gulf of Mexico,...