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Jim Cramer: Demand for Oil Is Going to Have to Come From Europe

TheStreet's Jim Cramer says oil will only go sustainably higher if we get demand, and demand is going to have to come from Europe.
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TheStreet's Jim Cramer says oil will go sustainably higher if we get demand, and demand is going to have to come from Europe. People are betting on Putin coming to the peace table, he explains, which would then make it so that Ukraine would no longer an issue, which would then make it so that Europe could get restarted for growth and that would make it so that Russia would still be able to pump but Europe would take it. If we get Europe better, he says, then China could have more demand because 25% of China's exports go to Europe and if we could see some cessation in supply in this country then oil can get into equilibrium. But it's not ready to do that. Cramer says on strength you can sell the companies that are spending more than their cash flow because those companies probably will not make it through this period.