The Permian Basin is the world's "swing producer"

It's hard to bet on oil price developments, but Tellurian chairman Charif Souki said Thursday that the Permian Basin in Texas and New Mexico was the main influence on the market.

"What I'm thinking now is that the Permian Basin has become the swing producer in the world and that, therefore, what's happening in America counts more than what's happening at OPEC. ", he said in an interview with CNBC's Jim Cramer on" Mad Money. "

OPEC announced Thursday that demand for crude oil would decline in 2020, Reuters said, causing the oil price to cool. The Brent, a benchmark oil price, futures prices fell 39 cents to 66.61 dollars a barrel and US crude futures Texas Intermediate futures fell 23 cents to 60.20 dollars a barrel.

Cheap gas prices, says Souki, would boost oil demand and Tellurian, which deals with natural gas transmission infrastructure, is not afraid of increased competition. Citing Scott Sheffield, CEO of Pioneer Natural Resources, in "Mad Money," Souki said oil production in the Permian was increasing from 4 million barrels to 8 million barrels a day.

He said that he was not afraid of losing customers in Europe.

"I am concerned about stopping burning in the Permian Basin, putting gas on the water and putting it on board ships – and you can be on the water for less than 2 $ – and so there is no competition for us there, "Souki told me. "We just need to build the infrastructure."

During the construction of this infrastructure, Souki pointed out that Tellurian had won a $ 500 million investment from the French oil and gas company Total. The funds will go to the $ 28-billion Tellurian Driftwood project, which includes the construction of a new liquefied natural gas export terminal in Louisiana and a pipeline system.

Tellurian shares ended Thursday's session, up more than 4%.