Dan Dicker, energy contributor at thestreet.com, talks with Jim Cramer about both the positive and negative fundamentals working on the price of a barrel of oil. On the negative side, OPEC members are poised to pump relentlessly with Iran and Libya ready to add to the global glut. On the positive side, lower gasoline prices have increased demand and there are some indications that US production is beginning to decrease, particularly in the Bakken shale plays. This has led to an uneasy equilibrium in oil prices of around $60 where prices have been since May. Dicker believes the next move is probably lower, but will not recommend anything in the oil patch until this strange price pattern has been broken.
Subscribe to TheStreetTV on YouTube:
For more content from TheStreet visit:
Check out all our videos:
Follow TheStreet on Twitter:
Like TheStreet on Facebook:
Follow TheStreet on LinkedIn:
Follow TheStreet on Google+:
source
