Zhi Tong Cai Jing·2025-11-04 03:13Core Viewpoint - Oil stocks continue to rise, with PetroChina, CNOOC, and Sinopec showing significant gains following OPEC+'s announcement to pause production increases in Q1 of next year, marking the first halt since the supply cuts began in April [1] Group 1: Market Performance - As of the report, PetroChina (00857) increased by 2.9% to HKD 8.53, CNOOC (00883) rose by 1.56% to HKD 20.78, and Sinopec (00386) gained 1.19% to HKD 4.27 [1] Group 2: OPEC+ Announcement - OPEC+ announced plans to pause production increases in the first quarter of next year, which is the first time since the organization began restoring supply cuts in April [1] Group 3: Price Forecast Adjustments - Morgan Stanley raised its short-term forecast for crude oil prices, increasing the Brent crude futures price expectation for the first half of 2026 from USD 57.50 to USD 60 per barrel [1] Group 4: Company Performance and Outlook - According to a report from Lyon, PetroChina's Q3 performance indicates the company can deliver stable and resilient earnings amid oil market fluctuations [1] - The dividend outlook and stability for PetroChina are considered the best among its peers [1] - Lyon raised the target price for PetroChina's H-shares from HKD 8.6 to HKD 8.8 and for A-shares from CNY 11.9 to CNY 12, reiterating a "outperform" rating and identifying it as the top choice among the three major oil companies [1]