HK Stock Market Move | Oil stocks continue to fall, with market concerns about oversupply in the oil market. Trump plans to increase oil and gas production.

Oil stocks continue to decline. As of the time of writing, China Oilfield Services (02883) fell by 2.59% to HK$7.16; KUNLUN ENERGY (00135) fell by 1.62% to HK$7.31; PetroChina (00857) fell by 0.98% to HK$6.06; CNOOC (00883) fell by 0.94% to HK$18.9. In terms of news, Trump said he would declare a national energy emergency, planning to increase oil and natural gas production, reduce consumer costs, or repeal climate regulations. Oil prices fell on Monday, with the Brent March contract closing down $0.64 to $80.15 per barrel, a decrease of 0.79%. Guotai Junan Futures believes that overall, there have been marginal changes in factors affecting oil prices, and there is a possibility of a high-level adjustment in oil prices. The International Energy Agency (IEA) stated in its latest monthly report that new sanctions by the United States on Russian oil could significantly disrupt the country's oil supply chain and potentially tighten the global market. However, the IEA is more cautious in assessing the impact of sanctions on Russian supply compared to the onset of the Ukraine crisis in March 2022 and the first imposition of sanctions. At the same time, due to the mild expansion of supply from non-OPEC+ oil-producing countries exceeding global demand, the market will experience an oversupply this year.