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Cramer: Oil deals are about to happen

Every day, Jim Cramer hears that oil is about to roll over, but now it seems things have finally turned around.

While many may not want to accept that the global landscape is improving, Cramer sees signs that things are bouncing back faster than anticipated, especially for oil.

"I think the clock is ticking, and the deals are about to happen," the "Mad Money" host said.

Going into the meeting in Doha last weekend, the expectation was that the world's major oil players would agree on a production freeze. Many hedge funds thought this was preposterous, and aggressively shorted the oil and oil service stocks.

Then it turned out there was no deal, and oil futures broke down on Sunday.

"That was just plain wrong. Why? Because the Doha meeting and all the chatter about a production freeze never mattered. What matters is supply and demand," Cramer said.

Read more from Mad Money with Jim Cramer