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Oilsands producers should be 'weary' of declining oil prices: analyst4 w& y4 s5 ^" t: V, u
Thu Sep 11, 3:33 PM; K& J4 v0 c3 X. f" ~2 c
The Canadian Press
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CALGARY - Producers in Alberta's oilsands have reason to be nervous if the price of crude oil continues on its downward path, an energy analyst says.
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Vince Lauerman of Geopolitics Central says a barrel of crude oil could fall as low as US$60 for some time if the slowdown in global economic growth ends up being worse than expected.
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And with that, Lauerman says, the higher cost producers in the oilsands should probably be somewhat weary. 0 n6 n+ N3 @! j% k. X5 d, ~0 v
; k4 O) b1 }7 Z0 gCrude oil was within reach of double digits Thursday, hovering around US$100 in afternoon trading on the New York Mercantile Exchange.
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' D' K0 G. F, ~: TThat marks a stunning descent from its record above $147 reached in mid-July. |
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