HK Stock Market Move | Oil stocks rise again, market focuses on IEA's release proposal, oil prices rise, three barrels of oil performance elasticity highlights.

Oil stocks rose again, as of the time of publication, CNOOC (00883) rose by 3.47% to 28 Hong Kong dollars; PetroChina (00857) rose by 2.34% to 10.5 Hong Kong dollars; China Oilfield Services (02883) rose by 0.51% to 9.85 Hong Kong dollars; KUNLUN ENERGY (00135) rose by 0.36% to 8.28 Hong Kong dollars. On the news front, it was reported that the International Energy Agency (IEA) is considering proposing the release of the largest ever strategic crude oil reserve, with a scale potentially exceeding 182 million barrels during the 2022 Russia-Ukraine conflict. IEA member countries are expected to make a decision on the proposal on Wednesday, and it may pass without opposition from any member country, although objections from any one country could lead to a delay in the plan. EB SECURITIES released a research report stating that there is certain pressure on the supply and demand of crude oil, but the current geopolitical conflicts are expected to alleviate concerns about crude oil supply and demand. The overall increase in geopolitical risk premiums is expected to continue to push up oil prices for a period of time. As major state-owned enterprises in the upstream oil and gas field, the "Three Oil Giants" and oil services companies have shown significant performance elasticity during periods of rising oil prices.