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Oilsands producers should be 'weary' of declining oil prices: analyst
6 ^( \( O! @1 Q# e3 oThu Sep 11, 3:33 PM
3 i( f8 d; b) O9 lThe 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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8 [2 L4 N: O* V3 \8 q$ bVince 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.
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A& p/ {- y' g! R+ @Crude 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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