Trade Oil Portfolio Index - OIX CFD

The Oil Portfolio Index consists of the 7 leading US Energy companies offered from Capital.com. The list of the companies includes the key players in the US Oil industry at the moment. It consists of Chevron (CVX), Exxon Mobil (XOM), ConocoPhillips (COP), Occidental Petroleum (OXY), Canadian Natural Resource Ltd (CNQ), Apache (APA) and Whiting Petroleum (WLL). The index is weighted to make equal impact for all shares and serves as the Market sentiment indicator towards US Oil market growth.
How is it calculated?
The Index is calculated as the sum of the product of each share price multiplied with its respective quantity (P1*Q1 + P2*Q2 + … + P7*Q7). In order their impact to be equal, the quantities used are presented as below:
Q1 CVX = 1
Q2 XOM=2
Q3 COP=2
Q4 OXY=7
Q5 CNQ=5
Q6 APA=7
Q7 WLL=4