Global X aims to offer an ETF buying stock in the oil industry

Official portrait of Securities and Exchange C...                                 
Global X Funds filed with the Securities and Exchange Commission to offer an exchange-traded fund that would buy stock in oil companies. The Global X Oil Equities ETF would use a replication strategy to track the Solactive Global Oil Equities Index. It plans to hold only 25 stocks from the index. The ETF is set to trade on NYSE Arca. Full story here