(Bloomberg) -- The Atlantic basin will see the most named storms since the 2012 season, the year Sandy crippled the U.S. East Coast, with five to eight of those strengthening into hurricanes by Nov. 30, the National Oceanic and Atmospheric Administration (NOAA) said.

NOAA increased its outlook from 12 to 17 named storms with winds of at least 39 miles (63 kilometers) per hour in the tropical Atlantic after the end of El Niño, which can produce winds that damage systems, according to an updated forecast released Thursday. Two to four storms could grow into major hurricanes with winds of at least 111 miles per hour.

Atlantic storms can threaten the Gulf of Mexico, where about 5 percent of the U.S. marketed natural gas production is produced along with 17 percent of crude oil, according to the Energy Information Administration. The Gulf region also is home to more than 45 percent of petroleum refining capacity and 51 percent of gas processing.