Initially, shares of Halliburton (HAL) - Get Report were lower in Friday's premarket trading session. However, the stock is now rallying on the day, up almost 1% despite CEO Dave Lesar saying the company would miss its fiscal first-quarter earnings estimates due to rising costs. 

Initially, this doesn't sound very good and the selloff seemed justified. However, the company's explanation that "it's hard to add resources to keep up with demand" takes away that bearish tone, TheStreet's Jim Cramer, manager of the Action Alerts PLUS portfolio, said on CNBC's "Stop Trading" segment. 

Shares of Halliburton have struggled over the past few months, down 8.6% over the past 90 days and down 7.5% year to date. With oil under pressure, investors may be feeling the heat and want to bail on the sector. 

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But there's two sides to every story, Cramer reasoned. WTI Crude is likely to bottom near $45 per barrel. He remains steadfast that the commodity remains in a trading range of $45 to $55 per barrel. 

Because the U.S. can pump so much oil, the companies have it trapped. Cramer explained that when oil gets to the upper end of its range, oil companies ratchet up production to lock in higher prices. When oil falls to the bottom of its range, the opposite is true; oil companies cut back production because of the lower price. 

Also remember that Saudi Arabia is pushing for its massive IPO offering. While the IPO likely won't happen until 2018, the country will not want oil prices to fall too low leading up to the deal, Cramer concluded. 

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At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.