Saudi Aramco to Sign 10 Energy Deals During Trump Visit

Saudi Aramco, Saudi Arabia's state oil firm, will sign deals with 10 U.S. companies on Saturday during President Donald Trump's visit to Saudi Arabia, Reuters reports.

The deals with top U.S. companies such as oilfield services firms Schlumberger (SLB) , Halliburton (HAL) , Baker Hughes (BHI) , and Weatherford (WFT) are part of the oil giant's push to develop local manufacturing.

Aramco will also sign deals with General Electric (GE) and drilling companies National Oilwell Varco (NOV) , Nabors Industries (NBR) and Rowan Companies (RDC) .

Saudi Aramco is expected to be the biggest initial public offering in history when it prices next year.

Jim Cramer and the AAP team know what's causing oil prices to decline, and they're telling their investment club members what to do about Apache, Schlumberger and Cimarex. Get his insights or analysis with a free trial subscription to Action Alerts Plus.

More from Stocks

Dow Gets Swept Into Nasty Reversal Even as Nasdaq Posts New Record

Dow Gets Swept Into Nasty Reversal Even as Nasdaq Posts New Record

REPLAY: Jim Cramer on Fed Rate Hikes, Oil Prices and Starbucks Worries

REPLAY: Jim Cramer on Fed Rate Hikes, Oil Prices and Starbucks Worries

What Will GM Do With Cruise -- and Is Its Stock Worth $55?

What Will GM Do With Cruise -- and Is Its Stock Worth $55?

3 Must Reads on the Market From TheStreet's Top Columnists

3 Must Reads on the Market From TheStreet's Top Columnists

This Should Be Your Retirement Savings Plan When the Stock Market Crashes

This Should Be Your Retirement Savings Plan When the Stock Market Crashes