TheStreet's Action Alerts PLUS Portfolio Manager Jim Cramer likes oil field services company Schlumberger (SLB) - Get Schlumberger NV Report This is the oil stock owned by his charitable trust, Action Alerts PLUS. He likes Schlumberger over petroleum service company Tidewater (TDW) - Get Tidewater Inc Report . On Thursday, oil prices crossed $50 a barrel for the first time in seven months, a development Cramer said is positive for the beleaguered American oil industry. Oil markets are looking ahead to next week's OPEC meeting, which may bring additional volatility.
At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.