Jim Cramer Says Oil Companies Like Chevron and Exxon “Have Classic Long-Term Approaches”

Chevron Corporation (NYSE:CVX) was on Jim Cramer’s Mad Money game plan for the week ahead. Ending his game plan with the company, Cramer said:

Finally, on Friday, let’s get boring. Chevron and Exxon are important. Now, these are usually placid affairs, but not this time. We’re going to listen closely, see if their plans have changed because of the war with Iran. I think these oil companies have classic long-term approaches, but they also know that you need to get the oil transported from one place to another. And now it’s easier to say get the oil out of Venezuela than it is anywhere in the Middle East.

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Chevron Corporation (NYSE:CVX) is an integrated energy company that explores, produces, refines, and markets oil, natural gas, and petrochemical products. It is worth noting that when a caller inquired about Exxon on April 2, Cramer said:

Well, look, I think, you know, first of all, Chevron I like more than Exxon. I think they’re more forward-looking. So I would not, I don’t want you to cash out of Exxon for Chevron, but I’m just telling everybody else that’s the case. I think that, I’m going to speak as a portfolio manager myself for my Charitable Trust. I sold my oil, and it was a mistake, and it was clearly a mistake because we forget how important oil is to our country. We spoke to ONEOK today, just shows you the value of it. I think you should have one.

I’ve been trying to go back and forth with Jeff Marks about what to do. I would encourage you to stay in Exxon if you, if someone’s watching and listening and they don’t own one, go for Chevron. These are known as E&P plays, and I think you just own it, and take it from me as someone who wishes that he had not sold his one oil. It’s really good to have one. To be up 34% year to date is great… Just hold on. And new people who are thinking, wow, Jim really likes to own an oil, the oil that I like to own is Chevron.

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