HK Stock Market Move | Oil stocks lead gains, OPEC+ to temporarily halt production increase in the first quarter of next year, and the performance of the three major oil companies shows resilience compared to overseas giants.

Oil stocks leading the gains, as of the time of writing, Petrochina (00857) rose 3.62% to 8.31 Hong Kong dollars; CNOOC Limited (00883) rose 3.69% to 20.5 Hong Kong dollars; Sinopec Shanghai Petrochemical (00338) rose 1.5% to 1.35 Hong Kong dollars; China Petroleum & Chemical Corporation (00386) rose 1.45% to 4.19 Hong Kong dollars. On the news front, after an online meeting on Sunday, OPEC+ stated that the eight member countries, led by Saudi Arabia, will increase production by 137,000 barrels per day in December, consistent with the increases in October and November. However, the organization also announced that due to seasonal factors, production increases will be halted in January to March next year, indicating a braking of OPEC+'s production plans. This news pushed oil prices higher, with Brent crude temporarily rising above $65 per barrel and WTI crude trading around $61 per barrel. EB Securities published a research report stating that in the third quarter of 2025, international oil and gas giants saw a year-on-year decline in operating performance due to falling oil prices and weak refining sentiments. ExxonMobil, Chevron, Shell, and Total saw year-on-year decreases of -14.3%, -33.9%, -9.6%, and -13.4% in net profit attributable to shareholders, respectively. Petrochina and CNOOC Limited had smaller declines in net profit attributable to shareholders in the first three quarters compared to most international oil and gas giants, demonstrating resilience in performance during a period of falling oil prices. In addition, the "big three oil" companies continue to strengthen reserve replenishment and production growth, highlighting their long-term value.