ETFtrends.com — ETF Trends — Fri Feb 27, 9:30AM CST

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Investors may have to get use to the idea of double-digit oil prices sticking around for the near-term. Consequently, exchange traded fund traders can capitalize on countries that rely on heavy crude imports.

“This is an oil shock that was supply-driven and the supply was created by new technology,” BlackRock’s Chief Exeuctive Officer and co-founder Larry Fink said on Bloomberg. “New technology is going to create a permanent reduction in the cost of petroleum products.”

Fink argues that without an end to the supply glut, prices would only rebound to about $70 or $80 per barrel. West Texas Intermediate crude oil futures declined 4.2% to $48.9 per barrel Thursday while Brent crude futures dipped 1.8% to $60.5 per barrel.

The United States Oil Fund (NYSEArca: USO ). which tracks WTI futures, declined 8.4% so far this year and plunged 49.0% over the past year.

Crude oil prices could remain depressed as the Organization of Petroleum Exporting Countries maintains its high output in an attempt to price out high-margin producers, such as those in the U.S. from the market. Additionally, the oil boom in the U.S. could keep growing as improvements in drilling technology helped offset spending cuts.

Consequently, Fink contends that oil-importing countries, like India and China, will benefit from cheap oil prices.

“That’s going to add at least one percent of GDP to India alone,” Fink added.

Investors who are interested in gaining exposure to both China and India’s markets can take a look at the First Trust ISE Chindia Index Fund (NYSEArca: FNI ). FNI selects the top 25 stocks from each country by liquidity. The top three stocks are weighted at 7% each, the next three weighted at 4% each, the next three weighted at 2% each and the remaining stocks are equally weighted. [A Targeted China/India ETF to Capture Emerging Market Growth ]

Alternatively, investors can target the emerging markets individually through country-specific ETFs. For instance, the Deutsche X-trackers Harvest CSI 300 China A-Shares ETF (NYSEArca: ASHR ) tracks mainland Chinese A-shares, while the iShares China Large-Cap ETF (NYSEArca: FXI ) and SPDR S&P China ETF (NYSEArca: GXC ) track Chinese company shares that trade outside of China. The WisdomTree India Earnings Fund (NYSEArca: EPI ). iShares India 50 ETF (NasdaqGM: INDY ) and PowerShares India Portfolio (NYSEArca: PIN ) provide exposure to India’s markets. [Capture Overseas Opportunities with These ETFs ]

For more information on developing economies, visit our emerging markets category .

Max Chen contributed to this article .

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.