UPDATE 3-'Could have been substantially worse': U.S. offshore oil lease sale weakest since 2016
March 18, 2020 at 16:49 PM EDT
A major sale of oil and gas leases in the U.S. Gulf of Mexico on Wednesday generated $93 million in high bids, the lowest total for any U.S. offshore auction since 2016, reflecting caution in the drilling industry amid a steep slide in oil prices.
