Before the opening bell on April 26, Europe’s third-largest oil company BP plc (BP) reported robust first-quarter 2016 results. Earnings per ADS of 17 cents strongly outpaced the Zacks Consensus Estimate of a loss of 26 cents but declined from the year-ago earnings of 85 cents. The surprise earnings beat came on the back of solid refining and trading performance, and lower costs that more than offset the decade-low crude price. However, revenues dropped 30.4% year over year to $39.17 billion (read: Will Energy ETFs Surprise This Earnings Season?). BP continues to focus on cost-cutting efficiencies in order to survive the prolonged low price environment and protect shareholder value. The company is now able to balance its future cash flow with shareholder payouts and capital spending at oil price of $50–$55 per barrel. This is especially true as it is ready to make deeper cuts to its capital spending program from $17 billion this year to $15 billion next year, in case oil price continues to decline. This move will ensure the sustainability of future dividends, making investors happy. Following the upbeat results, shares of BP jumped 5.4% at the close of trading. Meanwhile, the stock crossed its average volume figure as nearly 16 million shares exchanged on the day compared with the average of 9.1 million. This has spread strong optimism into the global energy sector, pushing the ETFs higher. ETFs in Focus Given BP’s strength and the solid run-up in its price, the following three ETFs could be worth a look for investors seeking to ride out the recent surge in the global energy sector. The trio has the largest allocation to the big oil giant and will be in focus in the coming days with room for upside (read: 5 ETFs to Buy if Oil Stays at $40). SPDR S&P International Energy Sector ETF (IPW) This fund provides exposure to the energy companies of developed markets excluding the U.S. by tracking the S&P Developed Ex-U.S. BMI Energy Sector Index. It is less popular and illiquid with AUM of $27.8 million and average daily volume of about 18,000 shares. The ETF charges 40 bps in fees per year from investors. In total, the fund holds about 155 securities in its basket. Of these firms, BP occupies the fourth position with 9.8% allocation. About 93.6% of the portfolio is allocated to oil, gas and consumable fuels, and the rest to equipment & services. In terms of country exposure, United Kingdom takes the largest share at 32.9% while Canada and France also get double-digit exposure of 29.3% and 13.7%, respectively. The product gained 1.4% following the results from BP. iShares MSCI Global Energy Producers ETF (FILL) This fund manages $35.8 million in its asset base and provides exposure to 191 global energy producer stocks by tracking the MSCI ACWI Select Energy Producers Investable Market Index. The product has an expense ratio of 0.39% and sees a light volume of around 29,000 shares. Here, BP occupies the sixth position in the basket with 4.5% share. North American firms dominate the fund’s returns with more than half of the portfolio, followed by the Netherlands (10.1%) and Canada (8.4%). From a sector look, the product is skewed toward oil and gas integrated with 63% share, and exploration and production with 27% share. The ETF added 0.6% on the day (see: all the Energy ETFs here). iShares Global Energy ETF (IXC) This ETF follows the S&P Global 1200 Energy Sector Index, giving investors exposure to the global energy space. The fund is relatively popular and liquid with AUM of $1.1 billion and average daily volume of around 378,000 shares. Expense ratio comes in at 0.48%. The product holds 81 stocks in its basket and BP takes the seventh spot making up 4.3% of the assets. Here again, the integrated oil and gas sector dominates the fund returns with 57% share while the U.S. firms make up for 59.2% of the portfolio. The fund is up about 1.3% following BP’s earnings release. Want the latest recommendations from Zacks Investment Research? Today, you can download 77 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BP PLC (BP): Free Stock Analysis Report SPDR-SP I EGY (IPW): ETF Research Reports ISHARS-M GL EGY (FILL): ETF Research Reports ISHARS-GLB EGY (IXC): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report