UBPETCH@EC2611A

Jilin Governor Hu Yuting Meets CNPC Chairman Dai Houliang to Discuss Deepening Cooperation in Green Energy and Other Fields

Kunlun Tongzhou Bay Strategic New-Economy Equity Investment Fund Established, with a Capital of 1 Billion Yuan

Kunlun GONGRONG Dianhang Strategic New Fund Partnership Established

BOCI Raises PetroChina Target Price to HKD12.85 and Maintains Buy Rating

BOC International Raises Profit Forecast for CNOOC 2026-2028

HSBC Research Maintains Buy Rating and Upgrades Target Price for PetroChina H Shares

China Everbright Securities Publishes Report Analyzing PetroChina's Q1 2026 Earnings at New High

China Authorizes State-owned Refiners to Export 5 Million Tons of Fuel to Alleviate Supply Issues

CLSA Reports: PetroChina's First Quarter Performance Robust, Stronger Q2 Growth Expected

China National Petroleum Corporation Holds Meeting to Emphasize Supply Security and External Challenges

China National Petroleum Corporation Q1 2026 Net Profit Grows Amid Revenue Decline

PetroChina released FY2026 Q1 earnings on April 29 During-Market (BJT), actual revenue HKD 834.87 B (forecast HKD 889.34 B), actual EPS HKD 0.2993 (forecast HKD 0.3061)

State-owned oil firms seek to resume fuel exports

CNPC LNG receiving station cumulative output exceeds 100 billion cubic meters

China National Petroleum Reports Record-Breaking 2025 Annual Report

PETROCHINA to Release FY2026 Q1 Earnings on April 29 During-Market (BJT), Forecast Revenue HKD 892.33 B, EPS HKD 0.306

DBS Upgrades CNPC Earnings Forecast and Maintains Buy Rating

First Shanghai Securities and DBS Maintain Buy Rating for PetroChina

JOLIMARK

PANGAEA CONNECT

WEILI HOLDINGS

MAN YUE TECH

SMIT

BJ DIGITAL

FY FINANCIAL

NEW GONOW RV

RADIANCE HLDGS

PERFECTECH INTL

00857

601857

00386

Rory Johnston, CEO of Commodity Context, highlights a 40% drop in China's oil imports this year due to the Iran conflict, while noting that the global economy remains strong. He suggests that China is likely relying more on its oil reserves, creating uncertainty in the market regarding when this support will end, potentially leading to increased oil prices.

MorningStar

PETROCHINA

SINOPEC CORP

NVIDIA

Tesla

Micron Tech

Taiwan Semiconductor

GameStop

Rocket Lab

Amazon

Apple

Intel

NVIDIA Corporation

GAMESTOP CORPORATION C/WTS (TO PUR COM) 30/10/2026

Here's the defensive stock-market trade that -2-

600938

00883

600028

159309

561760

561360

516570

159731

563150

WTI crude near $100 could raise summer road trip costs

Exxon Mobil

CNOOC

Occidental Petroleum

Sinopec Corp.

Chevron

China Universal CSI Oil & Gas Resources ETF

VG Energy

VanEck Oil Refiners ETF

Bosera CSI Oil & Gas Resources Index ETF

Us Brent Oil

SPDR O&G Equip

Guotai CSI Oil & Gas Industry ETF

VanEck Oil Services ETF

E Fund CSI Petrochemical Industry ETF

United States Oil Fund LP

Tortoise N Americ Pipe

iShares US Oil Equip & Svcs

SPDR O&G Ex & Prd

ChinaAMC CSI Petrochemical Industry ETF

First Trust North American Energy Infra Fd

Yinhua CSI Oil & Gas Resources ETF

GLOBAL X MLP & Energy Infra

Pro Ultr Bloomberg Crude Oil

Direxion Daily XOM Bull 2X Shares

Global X MLP

SPDR Energy Select

Direxion Daily Energy Bull 2X

iShares US Energy

Alerian MLP

ISHRS S&P Glb Engy

iShares US Oil & Gas Expl & Prod

WTI crude near $100 could raise summer road trip costs

Chinese refined fuel prices are set to increase by 90–110 yuan per ton at 24:00 on May 21, marking the eighth rise this year. This translates to an estimated increase of 8–9 cents per liter for 92-octane gasoline and an additional 4.5–5 yuan for a typical private car refill.

CoinLive

Chinese Refined Fuel Prices Set to Increase for Eighth Time This Year

PETROCHINAplans to transform traditional industries and develop new productive forces tailored to local conditions. Chairman Dai Houliang announced the focus on two emerging pillar industries: 'thermal-power-hydrogen' and 'bio-refining-new materials.' The company aims for technological self-reliance, enhancing innovation in core technologies and improving R&D investment efficiency.

AASTOCKS News

PetroCN HK SDR 1to2

PETROCHINA Will Develop New Quality Productive Forces Tailored to Local Conditions, Build Emerging Pillar Industries

CLSA reports that SINOPEC CORP has underperformed compared to PETROCHINA and CNOOC since the Israel-Iran conflict, reflecting a divergence in earnings amid rising oil prices. The broker expects SINOPEC to potentially report a loss in 2Q26 due to downstream challenges, impacting dividend distributions. In contrast, PETROCHINA and CNOOC are projected to benefit from strong cash flows and increased dividends. CLSA maintains an Outperform rating for all three, with target prices set at HKD12 for PETROCHINA, HKD32 for CNOOC, and HKD4.9 for SINOPEC CORP.

CNOOC-R

CLSA: SINOPEC CORP  Share Price Has Underperformed Peers Since Israel-Iran Conflict, Reflecting Fundamental Divergence; Sector Top Pick PETROCHINA

Evercore founder Roger Altman warns that the oil market may be at a tipping point, potentially leading to significantly higher prices that could destabilize the stock market. He highlights that a rise in crude oil prices towards $150 a barrel could trigger a second inflation shock post-COVID. While stocks have remained resilient, the diminishing buffers against oil supply shortfalls may complicate the economic outlook, which has otherwise appeared strong due to corporate profits and consumer resilience.

Dow Jones

Evercore

Factset Research

S&P 500

NASDAQ Composite Index

The oil market is reaching a 'tipping point' that could create problems for stocks, according to this Wall Street legend

The HSI opened down 123 points at 25,838, following a decline in US stock indices. Major tech stocks like Tencent and Alibaba also opened lower. In contrast, oil stocks CNOOC and PetroChina rose against the market trend. LEAPMOTOR saw a significant drop of over 7% after reporting a larger-than-expected loss in Q1.

HSI Opens Down 123 pts; 2 Oils Hike Against Mkt; LEAPMOTOR Slumps 3%+ Post-Results

UBPETCH@EC2611A(28722.HK)

Here's the defensive stock-market trade that -2-

WTI crude near $100 could raise summer road trip costs

Chinese Refined Fuel Prices Set to Increase for Eighth Time This Year

PETROCHINA Will Develop New Quality Productive Forces Tailored to Local Conditions, Build Emerging Pillar Industries

CLSA: SINOPEC CORP Share Price Has Underperformed Peers Since Israel-Iran Conflict, Reflecting Fundamental Divergence; Sector Top Pick PETROCHINA

The oil market is reaching a 'tipping point' that could create problems for stocks, according to this Wall Street legend

HSI Opens Down 123 pts; 2 Oils Hike Against Mkt; LEAPMOTOR Slumps 3%+ Post-Results