Oil hits—and quits—oneyear high
IT WAS A LONG TIME COMING
but a short time sticking around. Twice in 2016 the price of West Texas crude crept above US$50 a barrel. And twice the price tumbled right back down again into the realm of despair for Alberta producers. For OPEC and for overly exuberant American shale drillers, there was still plenty of blame to shovel around in 2016. And now, with Alberta’s spring budget prediction of oil prices in the $54 range for 2017 in jeopardy, the blame game will continue here at home for some time, too.
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