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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$60 for some time if the slowdown in global economic growth ends up being worse than expected. 2 s% V V, d+ l& L8 [! r
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And with that, Lauerman says, the higher cost producers in the oilsands should probably be somewhat weary.
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# g5 {" J$ [% C sCrude oil was within reach of double digits Thursday, hovering around US$100 in afternoon trading on the New York Mercantile Exchange. # M( n: w; y7 B' D! ^! f
3 l0 y5 A' z) m2 `2 |That marks a stunning descent from its record above $147 reached in mid-July. |
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