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Oilsands producers should be 'weary' of declining oil prices: analyst- s- {2 B. x* Y+ N5 l
Thu Sep 11, 3:33 PM
) w5 \3 x, e% y; H4 T4 [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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, V/ y& m6 K9 m: v0 Y% o1 CVince Lauerman of Geopolitics Central says a barrel of crude oil could fall as low as US$60 for some time if the slowdown in global economic growth ends up being worse than expected. 6 S+ u4 `6 C' M
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And with that, Lauerman says, the higher cost producers in the oilsands should probably be somewhat weary. - Y* F5 y- B4 G b" L9 T& n% |# E
; O6 K* n7 B/ N. U$ ?& eCrude 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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1 H- @7 n. o: u( X2 Y6 ?" dThat marks a stunning descent from its record above $147 reached in mid-July. |
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