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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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9 }( d0 x2 W( {0 _" V# N- [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. , f3 q1 y' {7 Q( j/ 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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4 @* ?% Q1 S+ a: Q2 f' T. ACrude 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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That marks a stunning descent from its record above $147 reached in mid-July. |
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