Likely yes. From what I was able to gather from the Ixtoc spill data, the oil toxicity doesn't appear to be terribly persistant though.
From what I understand the larger danger is outright extinction of entire populations, as the oil kills off the base of the food chain in places.
The bacteria that eat the oil also deplete the water of O2, so that will tend to really drive fish populations out of affected areas. Whether the places those fish end up can support the "refugee" populations is another matter.
It seems like oyster populations are goign to be hit hard though simply because they can't move around.

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