Canadian oil sands less than $ 10 a barrel

January 15, 2016 7:31

We arrived very heavy crude (bitumen) Product of the oil sands in Canada to the price of less than $ 9 a barrel, stressing already low expectations for the price of less than $ 20 a barrel.
Though most of OPEC crudes sold in the range of $ 25 a barrel, but investors reduced their expectations for prices this year does not seem exaggerated.
Despite the high cost of oil shale in Canada, but the manufacturers will not stop working because of its investments in production already spent and even if the price was lower than the cost will continue to produce.
The investment banks and major financial institutions began advises its customers to cut forecasts for oil prices this year.
Oil prices fell for the barrier $ 30 a barrel for the first time in more than a decade on Tuesday.