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.”

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.”

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