World's 2nd-Largest Oil Field to Drop Production by 8 Percent

8% is the magic number in the North American oil industry these days. First, BP institutes a pipeline closure that results in an 8% drop in total American oil capacity, and now Pemex is announcing that its Cantarell oil field, the world's second-largest, will drop 8% in production this year. Hear that? Yes, people,… » 8/10/06 12:45am 8/10/06 12:45am