CNOOC(SH:600938) Zhong Guo Zheng Quan Bao·2026-02-24 22:00Core Viewpoint - The A-share market experienced a collective rise on February 24, driven by a surge in international oil prices due to escalating geopolitical uncertainties, which in turn led to a rally in the oil and gas sector [1][2]. Industry Performance - On February 24, 24 out of 31 Shenwan first-level industry sectors rose, with the petroleum and petrochemical sector leading with a 5.53% increase. Oil and gas extraction and natural gas sectors also showed significant gains [2]. - Notable stocks such as Tongyuan Petroleum and Qianeng Hengxin achieved a 20% limit-up, while several others, including China National Offshore Oil Corporation (CNOOC), also hit their daily limits [2]. Financing Activity - There has been a notable influx of leveraged funds into the oil and gas sector, indicating strong investment value recognition. Key stocks like China Petroleum and Guanghui Energy saw net financing purchases exceeding 10 million yuan this year [3]. Market Drivers - The strong rebound in international oil prices during the Spring Festival was a major factor driving the rise in the oil and gas sector on February 24. The U.S.-Iran situation is identified as a significant influence on oil price trends [6]. - As of February 24, NYMEX crude oil futures and ICE Brent crude futures rose by 0.33% and 0.31%, respectively, with both contracts increasing over 5% since February 16 [6]. Future Outlook - Analysts predict that international oil prices will not rise unilaterally but will experience significant volatility influenced by geopolitical events. The market is expected to enter a phase of high volatility and sensitivity [8]. - If oil prices continue to rise due to geopolitical issues, it is advisable to focus on upstream companies with oil and gas resources and the offshore oil and gas service engineering sector, while midstream and downstream chemical leaders may present long-term investment value if geopolitical risk premiums decrease [8].