Top Stories
Top Stories

Here’s how to trade Saudi Arabia’s preferred $50 to $60 range for oil

Crude oil and water pour from a well head at an oil field.
Jeyhun Abdulla | Bloomberg | Getty Images

Oil prices pulled further away from the $50 level Wednesday with both the WTI and Brent benchmarks jumping to around $52 a barrel.

This is just how Saudi Arabia wants it.

Officials from the kingdom and other OPEC countries said this week that a $50 to $60 price is the preferred range for oil in order for the organization to provide adequate global supply.

There's one ETF in particular that could be a winning trade if the Saudis get their way…