The oil company is a holding in Cramer's Action Alerts Plus portfolio.
Real Money's Kevin Curran will have heavy coverage on the company throughout Monday, Dec. 3.
In an article for TheStreet's sister site, Curran reported:
A big factor that has pressured commodity prices is the trade enmity between the United States and China.
However, trade war fears have been put on hold thanks to a trade truce announced between the United States and China as the G-20 summit wrapped up. That truce will carry into 2019.
The bullishness on trade and oil prices was only increased by indications that OPEC will agree to reduce production at their Dec. 6 meeting in Vienna as a way to buoy prices after a plunge to about half of their October highs.
The recent plunge has left BP in particular down 10% since the start of October, highlighting a strong correlation to oil prices that has hurt its shares despite the company's solid balance sheet and management capability highlighted by the AAP team. Monday's move should offer signs of relief for shareholders.
Even non-OPEC members, or perhaps "unofficial" OPEC members, have said productions cuts should be expected.
"Regarding oil prices and our agreements. Yes, we have an agreement to extend the deal," President Vladimir Putin told reporters Saturday in Argentina. "No final agreement has been reached on output, but we will work on this together with Saudi Arabia."
"At this time, markets view the news as modestly positive for risk assets. Global equities rallied late last week on both optimistic signs for the U.S.-China meeting and the perception that the US Federal Reserve is becoming more flexible around further rate hikes," wrote UBS Global's CIO, Mark Haefele in a note on the outcome of the G-20 Summit.
Here's what else Cramer has to say about choosing BP and the upcoming OPEC meeting, which will be taking place on Thursday, Dec. 6.