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Oilsands producers should be 'weary' of declining oil prices: analyst0 b- O+ R7 A- d- a3 h# F7 G
Thu Sep 11, 3:33 PM% [! Z4 p( p" e
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. 2 Y9 N* t) o d" i: c9 t4 S
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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 p" A3 @8 O" j. J) r7 j6 t) w
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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. ; k/ j7 G7 c- s, u& W2 s5 |# I
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That marks a stunning descent from its record above $147 reached in mid-July. |
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