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Alberta`s Gas producers face bleak Market this Winter
CALGARY - Alberta natural gas producers, already hurting from steep declines in prices, should gird themselves for even softer markets this winter, according to a morning note by UBS Research.
Slower declines and plans to ramp up shale gas production will pull down 2009 average natural gas prices to $4 US from the investment brokerage`s previous forecast of $4.50 US, with 2010 averages falling to $6.25 US from $7.00 US, analyst Andrew Potter said in the research note.
"The revision to our forecasts is the result of changing fundamentals including US production not falling as quickly as expected," Potter said.
The investment brokerage had a brighter outlook for crude oil prices, pushing its 2010 forecast to $75 US per barrel from $70 US driven by a weaker US dollar and slowly strengthening world economies and demand.
Read the full article here.
CALGARY - Alberta natural gas producers, already hurting from steep declines in prices, should gird themselves for even softer markets this winter, according to a morning note by UBS Research.
Slower declines and plans to ramp up shale gas production will pull down 2009 average natural gas prices to $4 US from the investment brokerage`s previous forecast of $4.50 US, with 2010 averages falling to $6.25 US from $7.00 US, analyst Andrew Potter said in the research note.
"The revision to our forecasts is the result of changing fundamentals including US production not falling as quickly as expected," Potter said.
The investment brokerage had a brighter outlook for crude oil prices, pushing its 2010 forecast to $75 US per barrel from $70 US driven by a weaker US dollar and slowly strengthening world economies and demand.
Read the full article here.