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Oilsands producers should be 'weary' of declining oil prices: analyst
) u, B# |+ {" }* F' a" fThu Sep 11, 3:33 PM
4 r6 [; p0 x* j( @ r: D- fThe 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$60 for some time if the slowdown in global economic growth ends up being worse than expected. ' ]* Y; `# Z; K1 D! t- O
8 b- @/ }- G( IAnd with that, Lauerman says, the higher cost producers in the oilsands should probably be somewhat weary. f% L5 {; S4 M; b4 X" E) }
; a$ U2 e% p2 r1 dCrude oil was within reach of double digits Thursday, hovering around US$100 in afternoon trading on the New York Mercantile Exchange. 5 y4 ?* w# X4 ` a. n1 i, R
+ u, H6 {2 l. a( w- ?That marks a stunning descent from its record above $147 reached in mid-July. |
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