Jim Cramer on Oil: I Think Equilibrium Will Be Roughly $45-$50
Jim Cramer thinks oil prices will range between $45 and $50 a barrel.
TheStreet's Action Alerts PLUS Portfolio Manager Jim Cramer thinks oil prices will range between $45 and $50 a barrel. "There is some fundamental demand for oil," Cramer says. "I had felt that equilibrium had gone from $45 to $55 - I think equilibrium is going to be from $45 to $50 with periodic spikes above $50 and periodic drops below $45," Cramer added. Investors now await OPEC's next official meeting at the end of this month, where details about a previously announced production cut are expected to be unveiled.
