HK Stock Market Move | Afternoon rise in oil stocks, the three oil giants continue to strengthen reserves and production, institutions say long-term investment value is highlighted.

Oil stocks surged in the afternoon, as of press time, PetroChina (00857) rose 4.92% to HKD 7.68; CNOOC (00883) rose 2.26% to HKD 19.03; China Oilfield Services (02883) rose 1.95% to HKD 6.79; Sinopec (00386) rose 1.49% to HKD 4.1. On the news front, the latest research report from Morgan Stanley pointed out that major data providers have unprecedented discrepancies in their estimates of OPEC's crude oil production, with differences up to 2.5 million barrels per day. The bank stated that OPEC's production increase plan is actually "in name only", with significantly lower actual idle capacity than expected, and global oil demand stronger than generally believed. The oil market may rebalance in the second half of 2027, with Brent crude expected to rise to $65 per barrel by then. EB SECURITIES released a research report stating that amid increasing uncertainty in the external environment and significant oil price volatility, the "three barrels of oil" will continue to strengthen reserves and production. PetroChina, China Petroleum & Chemical Corporation, and CNOOC Limited plan to increase oil and gas equivalent production by 1.6%, 1.5%, and 5.9% respectively by 2025. Through continuous incremental cost reduction efforts, the "three barrels of oil" are expected to achieve long-term growth across oil price cycles, highlighting their long-term investment value.