Hong Kong stocks are fluctuating | Petroleum stocks are generally soft as OPEC accelerates production increase, raising concerns about supply impacting oil prices.

Petroleum stocks generally softened. As of the time of writing, China Oilfield Services (02883) is down 2.61%, reporting at 5.96 Hong Kong dollars; CNOOC (00883) is down 2.15%, reporting at 16.42 Hong Kong dollars.

Zhitong Finance32minutes ago

Saudi Arabia is waging a price war, and two major US Shale Oil giants have announced cuts in capital expenditures. Has the production of Shale Oil in the USA reached its peak?

The major USA shale oil companies Diamondback Energy and Coterra Energy have both stated that they will reduce their capital budgets for 2025 and decrease the number of drilling rigs. Diamondback Energy CEO Travis Stice warned: "Due to the reduction in drilling rigs, the USA onshore oil production is likely to have peaked and will begin to decline this quarter."

wallstreetcn21:09 ET

CNOOC Limited (NC2B) Receives a Buy From DBS

TipRanks20:27 ET · Ratings

Oil Prices Slide Over US$2 As OPEC+ Accelerates Output Hikes

Business Today19:46 ET

Update: WTI Oil Trading at Four-Year Low as OPEC+ Looks to Discipline Members With Another Hike in Supply

MT Newswires14:37 ET

CNOOC Limited: Strong Market Position and Strategic Growth Amidst Challenges Justify Buy Rating

TipRanks13:25 ET · Ratings