TheStreet’s Jim Cramer says he believes oil will finally stop correcting in 2016. He says the reason why it’s going to take that long is that in 2015 a lot of Gulf of Mexico oil is coming on, and while all the oil companies are trying to ratchet back, the amount of oil coming out of the Permian Basin is going to be very difficult to cut back on because there’s been so much infrastructure built. He adds, the supply side is going to continue to overwhelm the demand side but demand is going to pick up in China and it is already picking up in the U.S. for oil. In the end, Cramer says, it’s the supply side and the supply side is not being curtailed in 2015.
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