The International Energy Agency expects it will take several years before OPEC can effectively price out high-cost producers. Russia has also signaled it might trim output as much as some traders have hoped for.
SEE MORE: Energy ETFs Rally as Russia Joins OPEC in Considering Supply Limits
Traders looking to profit from falling oil prices have plenty of ETF options, including the ProShares UltraShort Bloomberg Crude Oil (NYSEArca: SCO), which tries to reflect the two times inverse or -200% daily performance of WTI crude oil, and DB Crude Oil Double Short ETN (NYSEArca: DTO), which also follows a -200% performance of oil.
[related_stories]“While managers have pulled back on their bullish stance, bearish outlooks for oil remain lower than before the OPEC agreement was announced. Managed money short positions are down 56 percent from September 27 (one day before the agreement was announced) and 52 percent less than October 27 of last year, when oil prices were still heading down,” according to OilPrice.com.
United States Oil Fund
