How to Manage Oil Stocks During Hurricane Season - Jim Cramer

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Here's what we know right now about Hurricane Dorian:

  • Dorian is currently a category 2 (as of Friday, August 30, 2019 at 8:00 a.m.)
  • It is gaining strength in the Western Atlantic Ocean
  • Residents in the Bahamas are under a hurricane watch
  • According to the Weather Channel it is likely to be a category 4 hurricane as it makes land fall in southern Florida.

While Florida residents are closely watching the hurricane, so are investors.

TheStreet founder and Action Alerts PLUS portfolio manager Jim Cramer shared his best advice during a recent Cramer Live show, which appears exclusively on TheStreet each market day at 10 a.m. ET.

"Recognize that we are putting out more and more oil every day," Cramer said. "We did 12 million barrels last week -- 12 million barrels a day, and that wasn't supposed to happen. We will be at 17 million in a couple of years. We've had to trim all oils [in Cramer's portfolio of stocks that he invests for charitable reasons], because the world's against fossil fuels just when we're producing more and more oil. So if you have a hurricane and [oil prices] temporarily spike -- which a lot of people thought they would -- then you sell."

You can watch Cramer's full take in the video above.

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