S&P projects West Texas Intermediate crude oil prices will average $94.52 per barrel in 2013 and dip down to $89.57 in 2014.
Investors who want access to upstream companies with global exposure can take a look at the Energy Select Sector SPDR Fund (NYSEArca: XLE). The fund also includes exposure to oil and gas equipment and services, storage, transportation, refining and marketing companies. XLF has a 0.18% expense ratio. The iShares Dow Jones U.S. Energy Sector Index ETF (NYSEArca: IYE) holds about 26% of holdings are in exploration and production. IYF has a 0.46% expense ratio. [Oil ETFs Pare Weekly Gain as Syria Remains in Focus]
For more information on the energy sector, visit our energy category.
Max Chen contributed to this article.