Investors hoping that global growth would improve welcomed news that Europe might partially abandon austerity as China cuts interest rates, said Jim Cramer on CNBC’s “Mad Money.”
In turn, Cramer thinks it might be a good time to start building a position in the oil space, which has been hammered along with the underlying commodity. He recommends Statoil , a Norwegian oil and gas company that operates as the world’s largest offshore operator in terms of production. It happens to pay a juicy dividend yield of 4.45 percent, too.
To learn more about the company’s prospects, though, he welcomed Bill Maloney onto Wednesday’s program. Maloney is executive vice president of development and production in North America.
Check out the video to see the full interview.
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