OPEC Secretary General Said Oil Demand Continues To Rise Significantly
Portfolio Pulse from Charles Gross
OPEC Secretary General has stated that the demand for oil continues to rise significantly. This could potentially impact the prices of oil-related ETFs.

November 07, 2023 | 10:45 am
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POSITIVE IMPACT
The United States Oil Fund (USO) could be impacted by the rising demand for oil as reported by OPEC.
The United States Oil Fund (USO) is an exchange-traded fund that aims to track the price of West Texas Intermediate (WTI) light, sweet crude oil. As such, any significant changes in the demand for oil, such as the increase reported by OPEC, could potentially impact the price of this ETF.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
The iShares China Large-Cap ETF (FXI) may see indirect effects due to rising oil demand.
The iShares China Large-Cap ETF (FXI) tracks an index of large-cap Chinese equities. While it is not directly linked to oil prices, the rising demand for oil could have indirect effects on the Chinese economy and, by extension, this ETF.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
The iShares MSCI India ETF (INDA) may be indirectly affected by the rising oil demand.
The iShares MSCI India ETF (INDA) tracks a market-cap-weighted index of Indian stocks. While it is not directly linked to oil prices, the rising demand for oil could have indirect effects on the Indian economy and, by extension, this ETF.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
The SPDR S&P 500 ETF Trust (SPY) may see indirect effects due to rising oil demand.
The SPDR S&P 500 ETF Trust (SPY) tracks a market-cap-weighted index of US large- and midcap stocks. While it is not directly linked to oil prices, the rising demand for oil could have indirect effects on the US economy and, by extension, this ETF.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
The Vanguard FTSE Europe ETF (VGK) may be indirectly affected by the rising oil demand.
The Vanguard FTSE Europe ETF (VGK) tracks a market-cap-weighted index of developed-market securities in Europe. While it is not directly linked to oil prices, the rising demand for oil could have indirect effects on the European economy and, by extension, this ETF.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50