HK Stock Market Move | Sinopec (00857) currently rises more than 3%, achieving growth in third-quarter performance against oil price trends, highlighting the company's operational resilience.

PetroChina (00857) is now up more than 3%, rising by 3.29% to HKD 5.65 as of press time, with a turnover of HKD 4.01 billion. On the news front, PetroChina previously released its performance, with the company achieving revenue of 702.41 billion yuan in the third quarter, a year-on-year decrease of 12.45%; net profit attributable to the parent company was 43.911 billion yuan, a year-on-year decrease of 5.31%, an increase of 2.29% quarter-on-quarter. Northeast pointed out that in the context of weak oil prices, the company is one of the few in the oil and petrochemical sector to achieve performance growth against falling oil prices. EB SECURITIES pointed out that PetroChina and CNOOC Limited achieved record-high performance in the first three quarters, highlighting their operational resilience. The tense geopolitical situation in the Middle East and the expected tightening of oil supply and demand under the leadership of OPEC+ bode well for oil prices in 2024. The "Big Three Oil Companies" have shown strong performance resilience during oil price fluctuations, and their profitability is expected to further improve.