TheStreet’s Action Alerts PLUS Portfolio Manager Jim Cramer said there’s no more OPEC – it’s just Saudi Arabia vs. Iran. ‘There’s no cartel at all,’ Cramer said, adding that Saudi Arabia wants to keep producing oil in order to hinder Iran’s abilities. On Thursday, OPEC members failed to reach a production freeze deal, following a meeting in Vienna. As for oil stocks, Cramer likes Occidental Petroleum , but pointed to a note from Bank of America Merrill Lynch saying it’s time to sell Exxon-Mobil . Cramer also said the closely watched commodity will trade between $40 and $50 a barrel.
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