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| HSI1 | 26,025.42 | 0.00 | -- |
| HSCEI1 | 8,835.50 | 0.00 | -- |
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2026-03-18 16:43:41 The current focus of the oil market is on Iran's blockade of the Strait of Hormuz, as approx. 25% of global seaborne oil trade passes through it, BOCI said. As long as there is no significant damage to oil infrastructure and the blockade does not last long, the broker expected that oil prices will not surge again. BOCI's base case assumption is that the blockade will ease or be lifted within a month, leading to a drastic drop in oil prices. Therefore, the broker reiterated rating at Neutral on China's oil industry. Investors should consider locking in profits from the recent rally in oil prices. As a pure upstream exploration and production company, CNOOC (00883.HK) directly benefited from the recent rally in oil prices, BOCI stated. Although the marginal benefits of further oil price increases are diluted by China's windfall tax, the negative impact on the Company is relatively small due to its higher proportion of overseas output. Therefore, the broker reiterated rating at Buy, and raised its target price from $25.06 to $33. BOCI raised its 2026/ 2027 earnings forecasts for PETROCHINA (00857.HK) by 49%/ 17%, mainly reflecting the higher oil price forecasts. The broker currently predicted its 2026 earnings to grow significantly by 29% YoY. It reiterated rating at Buy, and lifted its target price from $9.62 to $11.62. SINOPEC CORP (00386.HK)'s earnings decline in 2025 is anticipated to be the largest among major Chinese oil companies. The broker raised its 2026 earnings forecast by 47% to reflect the higher oil price forecasts, and added its target price from $4.21 to $5.12, with rating kept at Hold. ~ AASTOCKS Financial News Website: www.aastocks.com | |