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Oilsands producers should be 'weary' of declining oil prices: analyst- b* L2 D* B0 S+ f# }- l' M. [
Thu Sep 11, 3:33 PM
& q/ D1 w8 h2 u3 m, jThe Canadian Press - `. w: y: x, T* g. H) C
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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. 0 S7 D# ^7 N) T! ~, P( C
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Vince Lauerman of Geopolitics Central says a barrel of crude oil could fall as low as US$60 for some time if the slowdown in global economic growth ends up being worse than expected. ' R$ v: Y5 @8 n
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And with that, Lauerman says, the higher cost producers in the oilsands should probably be somewhat weary. 5 K8 u5 F( k- q( u" ]2 q
# d/ k) u4 b( ?2 N3 b) p/ p& q* BCrude 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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