Oil Prices Gain Steam Amid Rumors of a Production Freeze; Jim Cramer Weighs In: TheStreet

TheStreet

Published on Sep 19, 2016

TheStreet's Action Alerts PLUS Portfolio Manager Jim Cramer said Saudi Arabia is worried about the U.S. gaining market share in the oil market. 'As oil goes down to the lower $40s, you will hear Venezuela, Russia or Saudi Arabia say there's going to be a [production freeze] deal,' Cramer said. 'They all need oil higher - Saudi Arabia needs the money.'