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Connacher is a growing exploration, development and production company with a focus on producing bitumen and expanding its in-situ oil sands projects located near Fort McMurray, Alberta

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Message: Oil price two conflicting views?

Oil price two conflicting views?

posted on Jun 11, 2009 01:30PM

one is opinion the other just factual data,this from the Globe+Mail


“I still think we have a better chance of seeing $40 than we do $80, but I've been saying that all along and maybe I'm desperately wrong,” said Peter Beutel of Cameron Hanover. “We're more overbought that we were last year. There is nothing to justify this fundamentally.”

In the summer of 2008, crude prices neared $150 per barrel before prices crashed. Crude traded below $33 per barrel before the year was over.

On Thursday, the International Energy Agency in Paris said that the slump in global oil demand in 2009 would be slightly less severe than previously expected, however. The organization revised its demand estimate upward for the first time in 10 months.

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