After having worst week since the financial crisis, oil price has shown a strong reversal in the past couple of days on signs of monetary and fiscal stimulus and anticipation of further production cuts.This is especially true as both crude oil and Brent have gained nearly 7%, the biggest two-day percentage gains for both contracts since prices snapped back after the missile attacks on Saudi Arabian oil facilities in September 2019. Central banks across the globe are likely to enact financial stimulus to prop up the virus-infected economy (read: ETFs at Risk as Oil Slides to 13-Month Low on Covid-19 Scares).Meanwhile, the Organization of the Petroleum Exporting Countries (“OPEC”) and its allies are expected to announce deeper production cuts at their meeting on Mar 5-6 in Vienna. The group has been cutting output by 1.7 million barrels per day in a deal that runs to the end of March. Now, the OPEC is mulling over a bigger output cut of possibly 1 million barrels per day with or without Russia's support, to halt the slide in crude prices triggered by the global spread of coronavirus. This is more than an initially proposed cut of 600,000 barrels per day.Given the rebound in oil price, the energy sector enjoyed a huge surge. We have highlighted the ETFs & stocks that gained most in the latest trading session and will continue to head higher with the rise in oil price.Best ETFsWhile these are best performers in the space, they all lag behind the broader markets significantly. Our ranking system takes into account the asset class outlook, which was negative for energy and hence most ETFs in that space had #4 (Sell) or #5 (Strong Sell) ranks.Energy Select Sector SPDR Fund XLEThis fund provides exposure to companies in the oil, gas and consumable fuel, energy equipment and services industries by tracking the Energy Select Sector Index.Zacks Rank: #4AUM: $8.5 billionExpense Ratio: 0.13%1-Day Return: 4.1%Vanguard Energy ETF VDEThis fund follows the MSCI US Investable Market Energy 25/50 Index (see: all the Energy ETFs here).Zacks Rank: #4AUM: $2.7 billionExpense Ratio: 0.10%1-Day Return: 2.7%iShares U.S. Energy ETF IYEThis ETF tracks the Dow Jones U.S. Oil & Gas Index.Zacks Rank: #5AUM: $438.1 millionExpense Ratio: 0.42%1-Day Return: 2.6%Fidelity MSCI Energy Index ETF FENYThe fund follows the MSCI USA IMI Energy Index (read: Is the Nightmare Over for Coronavirus-Infected Energy ETFs?).Zacks Rank: #5AUM: $362.6 millionExpense Ratio: 0.08%1-Day Return: 2.6%iShares Global Energy ETF IXCThis product offers exposure to companies that produce and distribute oil and gas by tracking the S&P Global 1200 Energy Sector Index.Zacks Rank: N/AAUM: $654.8 millionExpense Ratio: 0.46%1-Day Return: 2.6%Best StocksExterran Corporation EXTNThis company is involved in compression, production and processing products and services of the oil and natural gas industry. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Zacks Rank: #3 (Hold)VGM Score: BMarket Cap: $170.8 million1-Day Return: 29.4%Bonanza Creek Energy Inc. BCEIThis company is engaged in the acquisition, exploration and development of onshore oil and natural gas properties in the United States.Zacks Rank: #3VGM Score: BMarket Cap: $336.1 million1-Day Return: 17.2%KLR Energy Acquisition Corp. ROSEThis oil and gas exploration company produces assets located in Texas and New Mexico and its investment activity will be focused on the Delaware Basin portion of the Permian Basin.Zacks Rank: #3VGM Score: BMarket Cap: $34.2 million1-Day Return: 14.5%Delek Logistics Partners L.P. DKLThis company owns, operates, acquires and constructs crude oil and refined products logistics and marketing assets (read: 7 Top-Ranked ETFs on Sale).Zacks Rank: #4VGM Score: BMarket Cap: $535.4 million1-Day Return: 12.6%Abraxas Petroleum Corporation AXASIt is an independent energy company engaged primarily in the acquisition, exploration, exploitation and production of crude oil and natural gas.Zacks Rank: #4VGM Score: AMarket Cap: $32 million1-Day Return: 12.4%Want key ETF info delivered straight to your inbox?Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>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 Energy Select Sector SPDR ETF (XLE): ETF Research Reports KLR Energy Acquisition Corp. (ROSE): Free Stock Analysis Report Delek Logistics Partners, L.P. (DKL): Free Stock Analysis Report Bonanza Creek Energy, Inc. (BCEI): Free Stock Analysis Report iShares Global Energy ETF (IXC): ETF Research Reports Abraxas Petroleum Corporation (AXAS): Free Stock Analysis Report iShares U.S. Energy ETF (IYE): ETF Research Reports Fidelity MSCI Energy Index ETF (FENY): ETF Research Reports Vanguard Energy ETF (VDE): ETF Research Reports Exterran Corporation (EXTN): Free Stock Analysis Report 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