Analysts quell crude supply fears from Gulf of Mexico spill

The effect on global crude supply in the short-term from the BP spill will be minimal, although production costs will rise, say analysts

Although a recently-released internal memo from BP acknowledges a worst-case scenario of 100,000 barrels a day of oil leaking from the Macondo oil well, market analysts still believe the impact on global supply will be minimal.

"[A 100,000bbl/day leak] would really be a worst-case scenario – very unlikely to happen. In the short term, I think that the effect on supply will remain limited," says Christophe Barret, global oil analyst with Crédit Agricole Corporate and Investment Bank. "The six