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In the Gulf of Mexico, there are more than 600 natural oil seeps that leak between one and five million barrels of oil per year, equivalent to roughly 80,000 to 200,000 tonnes. [40] When a petroleum seep forms underwater it may form a peculiar type of volcano known as an asphalt volcano .
An oil spill is the release of a liquid petroleum hydrocarbon into the environment, especially the marine ecosystem, due to human activity, and is a form of pollution.The term is usually given to marine oil spills, where oil is released into the ocean or coastal waters, but spills may also occur on land.
May 21 – BP begins live underwater video broadcasts of the leak. [64] Flow Rate Technical Group established for "scientifically validated information about the amount of oil flowing from BP s leaking oil well." [26] The average daily oil collection rates is 2,000 barrels (84,000 US gallons; 320,000 litres) a day. [65] [66]
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This is a reverse-chronological list of oil spills that have occurred throughout the world and spill(s) that are currently ongoing. Quantities are measured in tonnes of crude oil with one tonne roughly equal to 308 US gallons , 256 Imperial gallons , 7.33 barrels , or 1165 litres .
The 2004 Taylor Energy oil spill is an ongoing spill located in the Gulf of Mexico, around 11 miles (18 km) off the coast of the U.S. state of Louisiana. It is the result of the destruction of a Taylor Energy oil platform during Hurricane Ivan in 2004. It is the longest-running oil spill in U.S. history. [5]
Oil prices have been in focus recently for drivers and the Fed. With a new bout of violence in the Middle East, market observers are keeping close tabs on any effects to energy markets.
The firm expects global oil demand growth to decelerate from 1.3 million barrels per day this year to 1.1 million barrels per day next year "as the last phase of the post-pandemic rebound ...
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