Oil ETFs Rejoice After OPEC Agrees to Production Cuts

Markets ETF Trends

The Organization of Petroleum Exporting Countries concluded a deal to curb oil supply, its first cut in eight years, bolstering crude oil prices and energy-related ETFs. Leading market gains on Wednesday, the SPDR Oil & Gas Equipment & Services ETF (NYSEArca: XES) jumped 12.8%, PowerShares DWA Energy Momentum Portfolio (NYSEArca: PXI) surged 11.7% and PowerShares…Click to read more at ETFtrends.com.

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