Venezuela holds the key to oil pricing, says TheStreet's Jim Cramer. Cramer said Venezuela is the swing producer and is more important than the United States in this role. In the United States oil producers will sell crude above $50 because the banks want to make sure they can get their loans repaid. He added that natural gas prices are remaining resilient and this is positive for drillers like Encana (ECA) - Get Report . Natural gas is 'separating itself from oil right now' in Cramer's opinion as well.
At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.