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Oilsands producers should be 'weary' of declining oil prices: analyst
" r/ N/ f: A; t% R, Y- QThu Sep 11, 3:33 PM' \3 M s0 b* s7 A0 f& L& U
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. * R* Y5 M5 w H, A0 ~# V
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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. 0 ^/ F5 X( a p& P8 K6 [- {
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Crude oil was within reach of double digits Thursday, hovering around US$100 in afternoon trading on the New York Mercantile Exchange. 1 U5 k+ k* o* N, C2 J4 Q; g
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That marks a stunning descent from its record above $147 reached in mid-July. |
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