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Jim Cramer on Oil Ahead of Friday's White House Meeting With Oil CEOs

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Jim Cramer weighs in on oil.

Here's what investors need to know.

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Video Transcript:

KATHERINE ROSS: I'm wondering if investors really should be keeping their eyes on oil, especially after the headlines that we just got. 

JIM CRAMER: We're gonna lose a huge number of oil companies. So here we have Diamondback, which was down like 75%. That's up $6 today. That's terrific. How about Apache, which was the worst performer? Apache is up a dollar. So these stocks are coming back now. And if you own these stocks, own any of them, tomorrow you do some trimming, because now you just got all the good news, and it's probably just, in the end, maybe too much hype. Not today. Let them run. Because what we have is algorithms that make it so that the end of the day is usually the high, and you can take advantage of that. So tomorrow will be the day you'd let go of some oil.

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