Compensation for Hurricane Ida increases to $ 30 billion

AIR Worldwide, a data analytics and risk systems company, has predicted that the claims insurance companies will receive in the aftermath of Hurricane Ida will reach between $ 20 billion and $ 30 billion.

The company expected that Insured losses range from $ 17 to $ 25 billion.

These expected losses are far less than the losses caused by Hurricane Katrina in 2005, when the bill stood at $ 87 billion.

Last weekend, a two-week loss in U.S. offshore oil production increased when contracts were canceled, as prolonged disruptions from Hurricane Ida damage hit the world.

According to government data, three-quarters of oil production in the US Gulf of Mexico was still on hold at the end of last week as reform efforts continued.

Power outages at processing plants and onshore oil pipelines prevented some of the oil production from reaching land, which has been supporting oil prices since last week.

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