第一财经·2025-11-03 09:56Core Viewpoint - Oil and gas stocks experienced significant gains, with major companies like China National Offshore Oil Corporation (CNOOC) and China Petroleum & Chemical Corporation (Sinopec) seeing substantial increases in their stock prices, driven by OPEC+'s recent announcement regarding oil supply adjustments [3][4]. Group 1: Market Performance - CNOOC's stock rose over 4.8%, closing at 28.42 CNY per share, while China Petroleum's stock increased by 4.48%, reaching a new high of 9.56 CNY per share, with a total market capitalization surpassing 1.75 trillion CNY [3]. - Other companies, including Sinopec, Tongyuan Oil, and Zhongman Petroleum, also experienced stock price increases [3]. Group 2: OPEC+ Supply Adjustments - OPEC+ announced on November 2 that eight major oil-producing countries will increase oil supply by 137,000 barrels per day starting December, maintaining the previously announced modest increases for October and November [4]. - The organization will pause its production increase plans for the first quarter of 2026 due to seasonal factors, marking the first pause since resuming production cuts in April [4][6]. - Morgan Stanley adjusted its Brent crude oil price forecast for the first half of 2026 from $57.5 to $60 per barrel, indicating that OPEC+ is actively managing the market, which provides downward protection for oil prices [4]. Group 3: Impact on Oil Prices and Company Performance - OPEC+ has been supporting oil prices through production cuts, having announced a voluntary reduction of 1.65 million barrels per day in April 2023, originally set to last until the end of 2026 [6]. - The average price of Brent crude oil fell by approximately 14% year-on-year in the first three quarters of the year, leading to a decline in average selling prices for major Chinese oil companies by 8% to 14% [6]. - The three major oil companies in China collectively reported a decline in net profits in the first three quarters, with a reduction of over 35 billion CNY compared to the previous year, equating to a daily loss of approximately 3.8 million CNY [6].