Oil prices are steaming ahead again, after their brief pause earlier this week, boosting revenues for Russia and other oil-exporters among emerging markets and squeezing the big oil-importers headed by China and India.
Reuters, quoting traders, reported on Thursday that Bahrain Petroleum Co (BAPCO) reduced production on Thursday due to staff shortages caused by political unrest. The news helped push Brent crude up $2.38 a barrel to $112.97.
Reuters said BAPCO officials were not immediately available for comment But the agency quoted a Bahrain-based trader saying: “There has been a partial shutdown at BAPCO because of a shortage in staff due to the protests going on.”
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