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Oilsands producers should be 'weary' of declining oil prices: analyst
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The Canadian Press
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! ~; t, _& m6 Z$ M/ H' iCALGARY - 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$60 for some time if the slowdown in global economic growth ends up being worse than expected.
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And with that, Lauerman says, the higher cost producers in the oilsands should probably be somewhat weary. 2 n" Y! e3 i0 @0 G$ j# @, N1 R
$ d, o" F1 m- @, e$ q' yCrude 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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That marks a stunning descent from its record above $147 reached in mid-July. |
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