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Oilsands producers should be 'weary' of declining oil prices: analyst
8 w) g/ Y3 H a! t+ O8 jThu Sep 11, 3:33 PM! P8 m0 e0 v' b
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. % x# ^$ I* K3 J/ \1 |
( l$ u+ g8 W5 ?/ T) ~/ Z+ @Vince Lauerman of Geopolitics Central says a barrel of crude oil could fall as low as US$60 for some time if the slowdown in global economic growth ends up being worse than expected.
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And with that, Lauerman says, the higher cost producers in the oilsands should probably be somewhat weary. ! c" @: O3 v/ K+ Y3 J0 O
/ P" {" p( X9 `0 n- y$ LCrude oil was within reach of double digits Thursday, hovering around US$100 in afternoon trading on the New York Mercantile Exchange. q! w( v- y: E! W# ?
1 q- @4 e& |2 A SThat marks a stunning descent from its record above $147 reached in mid-July. |
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