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Hong Kong stocks movement | Petroleum stocks continue to decline as OPEC decides to increase production as scheduled. In the short term, oil prices are still affected by tariffs and other factors.
The Petroleum stocks collectively declined. As of the time of writing, China Oilfield Services (00883) dropped 3.02%, priced at 17.32 HKD; PetroChina (00857) fell 2.41%, priced at 5.68 HKD; China Oilfield Services (02883) decreased 1.74%, priced at 6.23 HKD.
SINOPEC SSC: NOTICE OF BOARD MEETING
Oil Prices Drop To Two-Month Lows On US Fuel Stockpile Build
New U.S. Sanctions Target Iran's Oil Supply Chain Amid Trump's 'Maximum Pressure' Push -- WSJ
Not afraid of pressure from Trump? Traders expect OPEC+ to delay the production increase plan for April again.
Despite Trump pressuring for a price cut, traders generally expect that due to a potential oversupply in the Global market, OPEC+ will postpone the planned monthly production increase set to start in April by one to three months. This is the fourth time since 2022 that OPEC+ has delayed plans to restore oil production.
Sinopec Oilfield Service Corporation (600871.SH): The company has no projects in Ukraine and Russia.
On February 20, Gelonghui reported that Sinopec Oilfield Service Corporation (600871.SH) stated on the investor interaction platform that the company currently has no projects in Ukraine and Russia.
Sinopec Oilfield Service Corporation's (HKG:1033) Popularity With Investors Is Under Threat From Overpricing
