Heavy Oil Investing News » 800,000 bpd of Canadian oil production could be shut

800,000 bpd of Canadian oil production could be shut

February 5, 2009 @ 12:08 am In Heavy Oil Market News

Analysts at Merrill Lynch said earlier this month that 800,000 bpd of Canadian oil production could be shut in if oil prices fall below $38 per barrel, with 800,000 more to follow if price drop below $30.

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[1] here: http://www.reuters.com/article/reutersEdge/idUSTRE4BG5KV20081217?sp=true