On April 30, oil stocks had the highest gains. As of press release,$CNOOC (00883.HK)$Up 4.76% to HK$20.7;$SINOPEC CORP (00386.HK)$Up 4.28% to HK$4.87;$PETROCHINA (00857.HK)$rose 2.05% to HK$7.45;$CHINA OILFIELD (02883.HK)$It rose 1.53% to HK$8.63.

GF Securities pointed out that since the second quarter, oil prices have remained high, driven by factors such as attacks on Russian refineries and the conflict between Iraq and Israel. According to Wind, since the second quarter of '24, the price of Brent oil has been 89 US dollars/barrel, an increase of 8.94% over the previous month. Looking at the short term, OPEC+ continued to cut production in the second quarter, and the peak summer demand season is approaching. The IMF expects Saudi Arabia to balance oil prices at 96 US dollars/barrel, which is supported by oil prices.

Everbright Securities, on the other hand, pointed out that with the boom in the upstream and oil services industry, CNOOC and its oil service companies performed well in the first quarter; CNOOC's incremental cost reduction achieved remarkable results, and the profit quality of subsidiary oil service companies improved significantly; upstream capital expenditure boosted the oil service boom and continued to be optimistic about oil service companies under the “Three Barrels of Oil”; and geopolitical premiums compounded tightening supply and demand, and were optimistic about high oil price fluctuations. The bank expects that oil prices will remain medium to high in the medium to long term, capital support for upstream enterprises will continue to increase, global oil services market sentiment will continue to pick up, state-owned enterprise reforms will continue to deepen, and it will continue to be optimistic about “three barrels of oil” and its subsidiaries.