US oil and gas companies on Friday cut more than 1.6 million barrels of oil production as a major storm churned toward oilfields that provide 17% of the nation’s oil production.

A potentially devastating storm is brewing in the Caribbean Sea and expected to make its way through the Gulf of Mexico's oil producing region.

Mexico has a long and storied history as a silver producer, often with gold or copper in the mix as well.

BHP's exit from petroleum, which made up just 5% of its annual earnings, speeds up its exit from fossil fuels amid pressure from environmentally conscious investors.

Reserves are estimated to be worth anywhere from $8 trillion to more than $16 trillion.