Here Is Why OPEC Is More Fantasy Than Reality

The OPEC deal is significant, but investors shouldn't get too carried away. "OPEC is more fantasy than reality," says economist and Real Money contributor Steve Blitz, adding that oil prices are more driven by demand rather than supply. He says OPEC would not have made an agreement if they weren't confident about future oil demand. On Wednesday, OPEC agreed to cut production by 1.2 million barrels a day by January - its first production cut since 2008. TheStreet's Scott Gamm reports from Wall Street.