In OPEC's Best Interest to Come to an Agreement, Says GRZ Energy's Grisanti

NEW YORK (TheStreet) -- OPEC will meet Wednesday in Vienna to finalize a September agreement to cut oil production for the first time in eight years. However, since the agreement was first announced, OPEC members appear to disagree regarding the proposed plan.

"I don't know. Let's see. The feeling today is mixed," Indonesian Energy Minster Ignasius Jonan said about the proposed cut in production.

Meanwhile, U.S. crude was declining 4.06% to $45.17 a barrel Tuesday.

"I am a buyer of crude oil. I do think they do come to an agreement," GRZ Energy Founder and President Anthony Grisanti said on CNBC's "Halftime Report" Tuesday afternoon.

A trader of oil for the past 25 years, Grisanti says even when OPEC has no intention of adhering to an agreement, it always announces "something."

"If they can't come to an agreement tomorrow, we are headed into the $30's, but I think they do because they realize how critical this is. If it can't, then it might be over for OPEC," he contended.

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