Ge Long Hui·2025-08-04 02:40Group 1 - OPEC and allied oil-producing countries, including Russia, agreed to increase oil production in September, leading to a decline in international oil prices and negatively impacting Hong Kong's oil stocks [1][2] - The stock performance of major oil companies in Hong Kong showed declines, with Yanchang Petroleum International down 2.38%, China National Petroleum Corporation down 1.62%, China National Offshore Oil Corporation down 1.18%, and Sinopec down 1.15% [2] - Analysts noted that weak economic data from the U.S. raised concerns about oil demand, with significant cooling in the U.S. job market and the fastest contraction in factory activity in nine months contributing to these worries [2] Group 2 - OPEC+ reached an agreement to increase production by 547,000 barrels per day starting in September, which adds further pressure on oil prices [2]