Oil ETFs Bounce as OPEC Backs Off Production Hike
This article was originally published on ETFTrends.com.
Oil exchange traded products, including the United States Oil Fund (NYSEArca: USO), which tracks West Texas Intermediate crude oil futures, and the United States Brent Oil Fund (NYSEArca: BNO), which tracks Brent crude oil futures, rallied Monday after the Organization of Petroleum Exporting Countries (OPEC) indicated it will not boost output in the near term. [...]