Werbung
Deutsche Märkte öffnen in 2 Stunden 56 Minuten

  • Nikkei 225

    37.712,88
    -747,20 (-1,94%)
     

  • Dow Jones 30

    38.460,92
    -42,77 (-0,11%)
     

  • Bitcoin EUR

    60.074,47
    -2.145,18 (-3,45%)
     

  • CMC Crypto 200

    1.391,14
    -32,96 (-2,31%)
     

  • Nasdaq Compositive

    15.712,75
    +16,11 (+0,10%)
     

  • S&P 500

    5.071,63
    +1,08 (+0,02%)
     

The guy who forecast oil fall tells Cramer where crude will trade in 2021

Abigail Stevenson
Aktualisiert
The guy who forecast oil fall tells Cramer where crude will trade in 2021

Jim Cramer has interviewed countless members of the energy industry, but he says there is only one guy who correctly called the bottom for crude and predicted the trajectory for oil prices, RBN Energy President Rusty Braziel.

Unfortunately, Braziel thinks an administration under President-elect Donald Trump means the oil and gas industry is going to get things done — which could be bad news for oil prices.

"Even under the Obama administration they got a lot of things done. They got so many things done that they crushed the price of oil and gas ... now we're going to get more things done. Does that make you a little uncomfortable?" Braziel said to the " Mad Money " host on Tuesday.

Looking at the forward curve, Braziel predicted that the price of oil will be $56 a barrel by 2021.

WERBUNG




Braziel also speculated that the OPEC agreement to stem production by 1.2 million barrels a day was all about "optics."

"Just the fear factor was enough to take the shorts out of the market — and that's why you got the boost — but let's face it, right now we are back down under $51," Braziel said.

According to Braziel, the sweet spot for OPEC is to have crude prices between $55 and $58 a barrel. They want the extra money, but do not want to create the economics to have the U.S. increase production by 100,000 barrels a day.

"I think that the Saudis probably had a building full of consultants tell them exactly the number that they needed to pick in order to be able to boost their revenue while not unleashing the beast," Braziel said.


Questions for Cramer?
Call Cramer: 1-800-743-CNBC

Want to take a deep dive into Cramer's world? Hit him up!
Mad Money Twitter - Jim Cramer Twitter - Facebook - Instagram - Vine

Questions, comments, suggestions for the "Mad Money" website? madcap@cnbc.com



More From CNBC

  • Top News and Analysis

  • Latest News Video

  • Personal Finance