Big Week For Big Oil Earnings And These ETFs

Welcome to Big Oil earnings week. This is your time if you like to trade stocks like Exxon Mobil (NYSE: XOM) and Chevron (NYSE: CVX) or the ETFs that offer significant allocations to those stocks.And there is a healthy amount of choices in the ETF universe for those looking to play earnings reports from the biggest U.S. oil companies. The reporting calendar is as follows: ConocoPhillips (NYSE: COP) on Wednesday, Exxon on Thursday and Chevron on Friday.Start with the Energy Select Sector SPDR (NYSE: XLE), which is one stop shopping for these companies with a combined weight of almost 38% to the three largest U.S. oil companies.The iShares Dow Jones US Energy ETF (NYSE: IYE) goes even further with an allocation of 44% to this trio, including a hefty weight of more than 25% to Exxon.The Vanguard Energy ETF (NYSE: VDE) gets you about exposure of about 39% to these guys, including almost 23% to Exxon.Chevron, Conoco and Exxon also combine for about 12% of the First Trust Energy AlphaDEX ETF (NYSE: FXN).Don't forget about the European oil majors. Royal Dutch Shell (NYSE: RDS-A) reports on Thursday and Total (NYSE: TOT) reports on Friday.The WisdomTree International Energy ETF (NYSE: DKA) allocates more than 22% of its weight to Shell and Total. The iShares S&P Global Energy ETF (NYSE: IXC) is a compelling play as all five stocks mentioned here are prominent members of IXC's top-10 holdings. They combine for over 38% of IXC's weight.