BP’s oil spill to tighten global oil supply - report
BP’s Gulf of Mexico oil spill will tighten global oil supply as US oil production is set to wane, following expectations the disaster will lead to stricter regulation and closer scrutiny of drilling operations in the US, say Barclays Capital
The explosion on BP's Deepwater Horizon oil rig, from the Macondo oil well in the Gulf of Mexico in April will slash US oil production and as a consequence tighten global oil supply as regulators use the disaster to impose stricter rules on exploration, drilling, operations and physical infrastructure, says Barclays Capital in its latest report Global Energy Outlook: Value after Macondo.
Barclays Capital added that the oil price for the end of 2010, which currently stands at $90 barrel (bbl)
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