February 4, 2015 – NGI
RBN’s Braziel Sees Oil/Gas Market ‘Resilience’
By: Richard Nemec
While the recent rapid drop in crude oil prices has been likened to the price collapse of 1986, a rebound is not likely to take 14 years as the 80’s crash did, according to Rusty Braziel, a veteran of the oil and gas industry during that time.
“It’s not going to take 14 years, but it won’t be 14 months either,” Braziel, founder of the analysis and consulting firm RBN Energy.
“In terms of the futures market, prices are viewed to be relatively low for quite sometime, and one of the reasons is that most of the market believes it is unlikely that crude oil production is going to fall off anytime soon.
"In 1986, when crude plunged from $30.00/bbl to $10.00/bbl, it took nearly four years to get back to the pre-crash levels, and then prices crashed again, staying down for more than a decade into the early 21st century, Braziel said during a symposium on prices held by the Center for Strategic and Informative Studies (CSIS).
Read the full story here: http://www.naturalgasintel.com/articles/101266-rbns-braziel-sees-oilgas-market-resilience
