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Oilsands producers should be 'weary' of declining oil prices: analyst
" Q/ }7 ^$ c$ L6 L2 B3 ^' cThu Sep 11, 3:33 PM6 Z: M- ]% s5 e' n! W
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. * r3 A5 H1 S! S0 n- u9 f& }, g
4 a; k# d2 E% D0 ~# D# T) XVince Lauerman of Geopolitics Central says a barrel of crude oil could fall as low as US$60 for some time if the slowdown in global economic growth ends up being worse than expected. - J+ ]4 C# {' v$ [
/ ^4 b- t1 {( [& L* \- D6 BAnd with that, Lauerman says, the higher cost producers in the oilsands should probably be somewhat weary.
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) {+ m* F) F5 b% p0 W, O2 }6 ICrude oil was within reach of double digits Thursday, hovering around US$100 in afternoon trading on the New York Mercantile Exchange. . o0 e; k6 i g1 H$ ]0 b
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That marks a stunning descent from its record above $147 reached in mid-July. |
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