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Oil Prices May Move on Trump Administration's Policies in Near Term -- Market Talk
Oil's Downturn Temporary? Analyst Eyes Support At US$73
CITIC Lyon: Assigns CHINA OILFIELD (02883) the "Outperform Market" rating. The risk-reward ratio is attractive.
CITIC Lyon believes that CNOOC's mid-term capital expenditure will increase (approximately 7 billion yuan), which will primarily be used for oilfield services rather than rig procurement.
Oil Falls After Trump Vows to Boost U.S. Output -- Market Talk
China Oilfield Services (601808.SH): Currently, the company's business in the USA accounts for a very small proportion in the Americas market.
On January 21, Gelonghui reported that China Oilfield Services (601808.SH) stated on its interactive platform that the company's internationalization process is continuously accelerating, forming a new market pattern of "1+2+N" with the domestic market as the foundation, and the Middle East and Southeast Asia markets as wings, driving the healthy development of overseas potential regions. Currently, the company's business share in the USA market within the Americas is very small. The company comprehensively assesses the growth potential, risk controllability, and equipment technology competitiveness of overseas regional markets, continuously improving regional market layout, focusing on strengthening the full lifecycle management of overseas projects, and continuously promoting reasonable growth of overseas business.
Hong Kong stock movement | Petroleum stocks continue to decline as the market worries about an oversupply in the oil market. Trump plans to increase Oil & Gas production.
Petroleum stocks continue to decline. As of the time of writing, China Oilfield Services (02883) is down 2.59%, trading at 7.16 HKD; KUNLUN ENERGY (00135) is down 1.62%, trading at 7.31 HKD; and PetroChina (00857) is down 0.98%, trading at 6.06 HKD.
