Chris Faulkner – Breitling Energy Oil Price Update (May 7, 2015)

Video Recap

This week, oil prices closed above the critical $60 level for the first time in 2015. Is this a blip, or are prices headed for higher ground? Chris Faulkner, Breitling Energy Chairman and CEO discusses this recent upswing in light of increasing demand and yet we have over 3,000 wells that have been drilled but have had no fracking yet, so that supply is waiting in the wings. What will happen to oil prices over the short term and rest of 2015? While oil broke above $60, natural gas continues to linger below $3.00, a critical level for producers to be profitable.

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