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Oilsands producers should be 'weary' of declining oil prices: analyst( f2 { H- V' U& C; {5 A0 \
Thu Sep 11, 3:33 PM+ \6 J4 C1 j) J- |
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. * ]# V# o" R) [, B) W+ j
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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. & z5 z& d. H0 D5 C8 {( \% F
1 I" t) z; r0 i1 mAnd 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$100 in afternoon trading on the New York Mercantile Exchange. 7 X/ ~0 u$ w G* }
" U6 o5 z; a9 t! f% tThat marks a stunning descent from its record above $147 reached in mid-July. |
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