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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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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$60 for some time if the slowdown in global economic growth ends up being worse than expected. 8 F# z2 g3 C- [: A) f r$ S
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And with that, Lauerman says, the higher cost producers in the oilsands should probably be somewhat weary. " i% D- Y$ h9 X
! _% c7 h, ?2 D0 YCrude oil was within reach of double digits Thursday, hovering around US$100 in afternoon trading on the New York Mercantile Exchange. . ^3 f) G: K& W, x* I
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That marks a stunning descent from its record above $147 reached in mid-July. |
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