Xin Lang Cai Jing·2025-12-24 06:37Core Viewpoint - The recent discovery of a billion-ton oil field in the Bohai Sea by China National Offshore Oil Corporation (CNOOC) strengthens China's offshore oil and gas resource reserves, while the oil market is experiencing fluctuations due to inventory changes and geopolitical factors [1][2]. Group 1: Market Performance - The National Petroleum and Natural Gas Index (399439) rose by 0.19% as of December 24, 2025, with notable increases in constituent stocks such as Jiufeng Energy (10.00%), Shengli Oilfield (4.76%), and Hongtian Co. (3.96%) [1]. - The Oil and Gas ETF (159697) increased by 0.26%, marking its third consecutive rise, with the latest price reported at 1.15 yuan [1]. Group 2: Industry Developments - CNOOC announced the discovery of the Qinhuangdao 29-6 oil field, marking the seventh billion-ton oil field found in the Bohai oil field since 2019, reinforcing China's offshore oil production capabilities [1]. - According to Huatai Securities, U.S. crude oil inventories showed an upward trend from October to November, but shifted to a downward trend in December, influenced by new sanctions on Venezuela that may disrupt oil supply channels [1]. Group 3: Future Outlook - The upcoming OPEC+ meeting on December 21 will discuss oil production plans for the next year, which could impact market expectations regarding oil supply [1]. - The short-term outlook for crude oil prices is expected to have some upward momentum due to the recent inventory changes and geopolitical developments [1].