U.S. Oil Prices Have Bottomed $LNG CEO Souki Says $XLE $UNG $UWTI $DWTI

Charif Souki, CEO of liquefied natural gas exporter Cheniere Energy, said U.S. oil prices have bottomed and the worst is behind now.

“In my sense, we probably have bottomed,” Souki told CNBC’s “Halftime Report” on Wednesday. “Because you always have to allow for the financial players who come in and look at trends and try to be a few months ahead of the physical [market].”

He said recent production cuts in the U.S. will play out and eventually lead a “ramp up” in production. “It may take another few months, but I think the worse is now behind us and the correction mechanism has started,” Souki said in an exclusive interview from the IHS CERAWeek energy conference in Houston.

Originally Aired: 22 Apr 2015 | 2:30 PM ET
Original Link: http://www.cnbc.com/id/102610772

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