[Genoa]

One rig is down, so supply should not be affected in the near term. Unless we’re being gouged.

[proud_yank]

One rig is down, so supply should not be affected in the near term.

Once investigations and failure analysis are complete, I imagine that many other companies operating off-shore rigs will be doing investigations to see that similar scenarios do not exist. This could require stopping or slowing production. Who knows what new govt regulations and mandated investigations will be required, that could also effect production/price.

[reaganator]

Oil is a commodity. The price of a commodity is set by market forces.