This oil ETF may be a better & lower risk way to gain exposure to oil prices than investing directly into oil producers. Oil producers valuations are based on discounted future cashflows, which are highly uncertain, particularly given ESG concerns / risks. As a result, oil producer valuations do not necessarily increase in line with oil / energy prices, due to this duration and ESG risk.
If one wants exposure to / or hedge against increasing oil pricing in the short / medium term, this ETF is a better option to oil producers, which also face the same liquidity cycle headwinds as other equities will face over the coming months.