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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: Crude could hit $40 a barrel by April, Deutsche Bank says
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Nov 19, 2008 04:31AM
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Nov 19, 2008 05:31AM

NEW YORK (MarketWatch) - Crude-oil prices could fall to $40 per barrel by April as demand falls and production becomes more cost-effective, Deutsche Bank said in a report released Wednesday. Prices will fall on "a huge overhang of new, more efficient refining capacity addition into an already-oversupplied market," the investment bank said. The Organization of the Petroleum Exporting Countries potentially needs to cut production by 2.5 million barrels a day to reduce supplies, the bank said, but members of the cartel also have incentives not to cut output because their revenues are falling from lower oil prices.

I always said I didn't believe we would go to 200 and it will take long time to recover .Not 2 years but many more.Opec earlier couldn't stop the fall and we were then in minor less crisis then we are now.

For the calculators here.What will be the impact on numbers for CLL?

Can they hold on in such an envirioment?




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