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Here's Why the U.S. Oil Production Glut Hasn't Occurred

The U.S. oil production glut many analysts anticipated hasn't occurred, and senior contributor Dan Dicker says this isn't a surprise.

The U.S. oil production glut many analysts anticipated hasn't occurred and senior contributor Dan Dicker tells TheStreet's Joe Deaux this isn't a surprise. Dicker says WTI crude won't be headed toward $80 a barrel and says this year, unlike 2013, investors should focus on exploration and production companies for value in the energy space. Companies like Cimarex, Concho Resources and Continental Resources report quarterly earnings soon, and Dicker says a miss in expectations could present a buying opportunity.

At the time of publication, Dicker was XXX, but positions can change at any time.

Dan Dicker has been a floor trader at the New York Mercantile Exchange with more than 25 years of oil trading experience. He is a licensed commodities trade adviser.

Dan is currently President of

MercBloc LLC,

a wealth management firm and is the author of

"Oil's Endless Bid,"

published in March of 2011 by John Wiley and Sons.

Dan Dicker has appeared as an energy analyst since 2002 with all the major financial news networks. He has lent his expertise in hundreds of live radio and television broadcasts on

CNBC

,

Bloomberg

US and UK and

CNNfn.

Dan obtained a bachelor of arts degree from the State University of New York at Stony Brook in 1982.