Jim Cramer Says “Oil’s Headed Lower” While Discussing Exxon

Exxon Mobil Corporation (NYSE:XOM) is one of the stocks in Jim Cramer’s game plan this week. Cramer finished his game plan with the company and remarked:

“Alright then, to wrap things up, we have Exxon and Chevron reporting… I have no idea what Exxon will say. Either way, I think oil’s headed lower thanks to tepid demand from China, actually helped by more pumping in Venezuela. I’d like to know what everybody thinks about that.”

Jim Cramer Says "Oil’s Headed Lower" While Discussing Exxon

justin-c-6bsVqTJna_o-unsplash

Exxon (NYSE:XOM) engages in the exploration, production, and sale of oil, natural gas, fuels, petrochemicals, and specialty products. In a June episode, a caller inquired about the company, and Cramer replied:

“Okay, I’ll tell you how I feel about the oil business. I don’t like it, but I do like the dividends. Because of the dividends, I’m willing to bless them. But if they didn’t have good dividends, believe me, I wouldn’t go near the group because I think that the group is just not in good shape.”

While we acknowledge the risk and potential of XOM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than XOM and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.