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Oilsands producers should be 'weary' of declining oil prices: analyst: F4 b1 f0 Y. c6 g6 r' }
Thu Sep 11, 3:33 PM- g6 E' i& k4 i1 T6 i: S$ f
The Canadian Press
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I# |8 q2 ^. t$ C. t. TCALGARY - 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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1 z, C5 N: x7 r. b& R6 fVince 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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Crude oil was within reach of double digits Thursday, hovering around US$100 in afternoon trading on the New York Mercantile Exchange. + C! D; o* P1 G" g6 o
. r% c- v+ | w8 ?That marks a stunning descent from its record above $147 reached in mid-July. |
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