For investors seeking momentum, VanEck Oil Services ETF OIH is probably on the radar. The fund just hit a 52-week high and is up 65.9% from its 52-week low price of $191.21/share.
But are there more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed:
OIH in Focus
The underlying MVIS U.S. Listed Oil Services 25 Index tracks the overall performance of U.S.-listed companies involved in oil services to the upstream oil sector, which include oil equipment, oil services, or oil drilling. The product charges 35 bps in annual fees (See: All Energy ETFs here).
Why the Move?
The rally in oil prices this year stemmed mainly from U.S. intervention in Venezuela, including the capture of Nicolás Maduro, triggering uncertainty on future oil supply dynamics. United States Oil Fund LP USO is up 3.1% so far this year (as of Jan. 8, 2026). With geopolitical tensions remaining in place, oil services ETF OIH probably has soared.
More Gains Ahead?
Currently, OIH has a Zacks ETF Rank #3 (Hold) with a High risk outlook. However, it might continue its strong performance in the near term, with a positive weighted alpha of 26.64 (as per Barchart.com), which gives cues of a further rally.
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
