The expert that called oil’s decline just said these lower prices are here to stay

March 17, 2017 – CNBC

The expert that called oil’s decline just said these lower prices are here to stay

By: Elizabeth Gurdus

United States oil producers are behind oil's current lower prices, which are here to stay for the foreseeable future, oil guru Rusty Braziel told "Mad Money" host Jim Cramer on Friday.

"If we look forward for the next five years, the forward curve of crude oil in the United States is at $50 flat," the president and CEO of RBN told Cramer. "It's the ingenuity of U.S.-producing companies. We've learned how to produce and make money at 50 bucks."

According to Braziel, U.S. companies have introduced new ways of fracking and drilling that allow them to extract more hydrocarbons, the main ingredients of petroleum and natural gas.

Read the full article and watch the full segment here: http://www.cnbc.com/2017/03/17/the-expert-that-called-oils-decline-just-said-these-lower-prices-are-here-to-stay.html