Chad Brownstein on CNBC’s Closing Bell – Oil’s ‘Black Friday’ moment
This clip aired on December 12, 2014 on CNBC’s Closing Bell
Chad Brownstein, CEO of Rocky Mountain Resources, discusses the impact of current oil prices, OPEC’s recent moves and pressures faced by US oil drillers.
More quotes from Chad Brownstein:
“We’re have a global margin call.”
“We hit 75 because of OPEC.”
“We’re at a technical level that’s being pushed by the forced selling in the global markets.”
“I think we can hit the mid 40’s but I clearly believe the stabilized number is closer to the 70’s longer term.”