Jim Cramer Breaks Down the Historic OPEC+ Deal, Oil Stocks to Watch
Let's break down the OPEC+ deal.
Jim Cramer weighed in on the deal and the oil stocks he's watching.
Watch the full video above for more.
Good morning. I'm Katherine Ross and I'm joined by Jim Cramer. We're joining you via Skype this morning in our part to practice social distancing. Jim, can you break down the historic OPEC+ deal and the pros and cons of this deal?
Right. Well, this is a deal that actually is going to keep the companies afloat. So you're going to see Apache up, Devon is up. We're actually witnessing what I thought is a revival. So let's just go right down because I think that there's a lot of stocks that are most affected. We're seeing Pioneer do well, Marathon, Apache. We're seeing Williams Companies, Occidental, Baker Hughes, which even though they had a big impairment, Devon, Hess, and Phillips and Chevron. Those are the ones that are the winners, and they're the winners because oil looks like it's not going to go to the teens, and those stocks reflected the teens.
So you would specifically go for those stocks after this deal?
So they're positive stocks to you?
I don't like any of the oil companies. I've been saying if you have to own an oil company, you can own Chevron because the dividend is good, or you can own Parsley, Pioneer, EOG. Those are the well-run companies, and then the rest of them are just too hard.
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