Oil hits—and quits—oneyear high

Alberta Oil - - OBSERVER | NEWS NUMBERS PEOPLE PLACES -

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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