The storm was blamed for the evacuation of more than 700 offshore platforms and rigs. Several Gulf Coast refineries in Katrina's path have shut down or reduced operations.
In response, the International Energy Agency this month agreed to release 2 million barrels a day of crude oil, gasoline and other fuels on to the world market from their strategic stockpiles over the ensuing 30 days.
That is equal to approximately 2.4 percent of the world's daily fuel consumption.
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