Dan Dicker, energy contributor at TheStreet, talks with Rhonda Schaffler about the outcome of the OPEC meeting and the continuing price reaction in the oil market. Dicker was expecting the final result of the OPEC meeting and the lack of any production ceiling from the Cartel, but the market in oil and oil stocks continues to view it as a new development. While prices for oil continue to slide, Dicker doesn’t believe that oil will reach the Goldman Sachs target of $20, but for the benefit of investing in the energy space, it doesn’t have to. Most shares in energy will continue to do poorly with oil prices below $40, making only the steadiest oil companies investable, and only with a very long time horizon. Some names worth considering include Exxon Mobil (XOM), Chevron (CVX) and EOG Resources (EOG).
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