January 28, 2019 – CNBC
Here's the most important thing going on in the oil market, according to oil guru who predicted past declines
By: Elizabeth Gurdus
The most important trend happening in the oil market has to do with China, oil guru and RBN Energy President and Principal Energy Markets Consultant Rusty Braziel tells CNBC's Jim Cramer.
Braziel, a frequent "Mad Money" guest who has correctly predicted several oil price collapses in recent years, referenced the commodity's price drop in October of last year. After starting the month near four-year highs, crude oil prices saw their biggest monthly drop in over two years.
Since October, oil prices have been trading lower, a trend some have connected to incipient economic weakness in China. While Cramer wasn't convinced by that line of thinking, Braziel said in a Monday interview that it actually had merit.
"If demand in China is down, if the economy in China is down, that means the total demand for crude oil is going to be down. If crude oil demand drops, then total demand drops, then … crude oil prices are likely to decline, too," Braziel said. "As a matter of fact, that's really the most important thing that's going on right now, and it's what happened back in 2014."
Read the full article and see the video here: https://www.cnbc.com/2019/01/28/rbn-energys-rusty-braziel-on-the-most-important-trend-in-oil-market.html