As of October 2015, the worst-performing crude oil ETFs for the year include UWTI, UCO, OIL and OLO, reports ETFdb. Between January and October 2015, UWTI lost 78 percent of its value, while UCO lost 55 percent and OIL lost 32 percent. OLO lost roughly 29 percent within the same timeframe.
Between June 2014 and October 2015, crude oil prices plunged about 50 percent, reaching depths not seen since 2009, reports the New York Times. Oil industry insiders don't expect oil prices to reach previous heights for years. The crude oil price drop was closely related to the growth of U.S. domestic oil production, which doubled from 2009 to 2015. This drop in the U.S. need for oil imports has led exporters like Nigeria and Saudi Arabia to ply less well-off customers in Asia, which has further reduced oil prices.
Greater automotive fuel-efficiency has contributed to reduced demand for crude oil, says the New York Times. Economic problems in Europe and China have also reduced global demand. The average U.S. motorist has benefited greatly from the crude oil price collapse, low-income motorists in particular. However, oil price trends have negatively affected the economies of Alaska, North Dakota, Texas and Louisiana.