Oil price soars as BP closes down Alaskan production

Oil traded near record highs today after the discovery of pipeline corrosion caused BP to close the biggest production field in the United States.

Oil price soars as BP closes down Alaskan production
Mon, 07 Aug, 2006 - 19:01

Oil traded near record highs today after the discovery of pipeline corrosion caused BP to close the biggest production field in the United States.

The phased shutdown of the Prudhoe Bay oil field in Alaska will cut output by around 400,000 barrels a day, equivalent to 8% of US oil production.

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