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Where's The Oil?

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Why aren't countries such as Mexico and Venezuela ramping up production with prices at these levels?

Because they don't have to, says Fast Money’s favorite emerging markets specialist Tim Seymour.

In emerging markets, I think Russia presents the best opportunities for more oil. Gazprom is my favorite name in the space. Not only are they looking to exploit the US market but they own almost 25% of Europe’s gas supply.

But I wouldn’t trade based only upon new supply coming on the market, I think you have to look at other factors too. Disruption will probably continue to rock the oil markets and the dollar will have a big impact too.

I’d look at oil services, specifically Haliburtonand Schlumberger . Though neither is a straight EM play both are working with emerging markets to get oil out of the ground.

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