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Oilsands producers should be 'weary' of declining oil prices: analyst- K0 w6 m( w$ T) n
Thu Sep 11, 3:33 PM
0 V% T/ ^; a. {/ E( R$ MThe Canadian Press : u' v; ?- _, q1 P/ w- s+ [
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& S ~1 s$ B* _9 k5 XCALGARY - 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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) |5 t$ O! b. E- sVince 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. # Q* I8 j% X3 Y W4 B0 u5 V
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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$100 in afternoon trading on the New York Mercantile Exchange.
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' b" K$ a% _( V ^3 Q) BThat marks a stunning descent from its record above $147 reached in mid-July. |
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