After several days of negotiations, OPEC+ and its allies, including Russia, have reached an agreement to increase oil production by 400,000 barrels per day each month from August. In addition, a fear of a slowdown in oil demand linked to the spread of the Delta variant is growing. These two pieces of information have severely affected oil prices, which have fallen dramatically over the past two weeks.
ETFs exposed to oil and gas saw their three-month returns fall by -18%, from +30% to +12% in less than two weeks.
To review the performance of the 31 ETFs that have exposure to Oil & Gas, check out our screener in the links below.
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