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Oilsands producers should be 'weary' of declining oil prices: analyst
/ z9 Q) ^( i Z' x/ ?Thu Sep 11, 3:33 PM
6 g4 j2 i' ~1 ^3 \& IThe 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$60 for some time if the slowdown in global economic growth ends up being worse than expected. 8 E5 M" @# K% [$ l3 T: _
" h m/ t6 [4 U" r/ mAnd with that, Lauerman says, the higher cost producers in the oilsands should probably be somewhat weary.
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* b1 i3 F0 t" V3 sCrude oil was within reach of double digits Thursday, hovering around US$100 in afternoon trading on the New York Mercantile Exchange. % i' n. v" ^/ I- k1 u
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That marks a stunning descent from its record above $147 reached in mid-July. |
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