OPEC and non-OPEC oil producers finally clinched a deal on December 10 – first time since 2001 – to curb production. Prior to this, on November 30, OPEC leaders signed the oil output cut deal for the first time in eight years and succeeding in the third attempt this year.

The apparent hurdles to the OPEC deal – Iran and Iraq – also came in tune with others and decided to slash production by about 1.2 million barrels a day from January to about 32.5 million barrels for six months.

Now, non-OPEC producers vowed to reduce “output by 558,000 bpd, short of the initial target of 600,000 bpd but still the largest-ever contribution by non-OPEC countries.” Of this, Russia will slash 300,000 bpd gradually, as per Reuters.

The latest move has given a boost to both WTI and Brent futures by about 5%. Analysts are of the view that $60-Oil may soon be a reality. However, 558,000 bpd also believe that oil price will not go beyond the $60 per barrel mark as this will once again bring back competition in the space.

While the output cut deal is good for oil and energy related ETFs, this can be damaging for some other kind of investments. In this light, investors may consider avoiding the ETFs mentioned below:

PowerShares Dynamic Leisure and Entertainment ETF (PEJ – Free Report)

High energy prices mean less disposable income for consumers. Consumers who became used to shelling out less on gas stations, would see less savings to splurge on discretionary items. This trend may hurt this leisure ETF.

VanEck Vectors Oil Refiners ETF (CRAK – Free Report)

Investors should note that companies in the refining segment benefit from lower oil prices as crude is one of their main input costs. As a result, this oil refiner ETF would be hit by a rise in oil prices.

SPDR S&P Transportation ETF (XTN – Free Report)

Since energy costs form a major portion of the overall costs of the transportation sector, transportation ETF would likely be hard hit.

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