The same can be said for African countries like Libya and Nigeria, which are represented in the Market Vectors Africa (NYSEArca: AFK). Nigeria makes up 20% of the fund, South Africa is 30%, Morocco and Egypt together is 30%. AFK only has around 10% direct exposure to energy companies.
Other ETFs that include oil-rich countries include:
- WisdomTree Middle East Dividend (NASDAQ: GULF)
- PowerShares MENA Frontier Countries (NASDAQ: PMNA)
For more information on oil, visit our oil category.
Max Chen contributed to this article.