There are plenty of factors to consider before coming to the conclusion that oil and the related exchange traded products are completely out of the woods. Earlier this month, Saudi Arabia and Iran failed to find common ground during the oil freeze talks in Doha, Qatar.
Related: Oil ETF Bears Continue Aggressive Forecasts
“If the XOP does move to $36.50, Gordon predicts that oil will keep moving up,” according to CNBC.
Other ETFs with exploration and production exposure include the PowerShares Dynamic Energy Exploration & Production Portfolio (NYSEArca: PXE) and the Guggenheim S&P Equal Weight Energy ETF (NYSEArca: RYE).
Want more Oil ETF news and analysis? Visit www.etftrends.com/oil
SPDR S&P Oil & Gas Exploration & Production ETF
