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<Research>BOCI Downgrades CN Oil Sector/ SINOPEC CORP (00386.HK) to Neutral/ Hold
Due to OPEC+'s unexpected acceleration of output cuts, oil prices remained sluggish after a sharp drop in early April, BOCI released a research report saying.Therefore, BOCI be...
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<Research>BOCI Downgrades CN Oil Sector/ SINOPEC CORP (00386.HK) to Neutral/ Hold
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35
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79
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32
 
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Due to OPEC+'s unexpected acceleration of output cuts, oil prices remained sluggish after a sharp drop in early April, BOCI released a research report saying.

Therefore, BOCI believed that oil prices will remain weak for some time, and lowered its 2025-2026 oil price forecasts by 7-8%. Meanwhile, the broker downgraded SINOPEC CORP (00386.HK)  -0.010 (-0.241%)    Short selling $88.45M; Ratio 14.471%   to Hold and the rating on China's oil industry from Overweight to Neutral.

Related NewsM Stanley Latest Focus List for H Shrs, CN ADRs, A Shrs (Table)
CNOOC (00883.HK)  -0.100 (-0.560%)    Short selling $76.49M; Ratio 3.557%   remains its top pick in the industry, BOCI added. The company's low costs and substantial output growth will mitigate the negative impact of falling oil prices on earnings.

Stock│ Rating│ TP
CNOOC (00883.HK)  -0.100 (-0.560%)    Short selling $76.49M; Ratio 3.557%   │Buy│$23.55→$22.14
PETROCHINA (00857.HK)  +0.030 (+0.465%)    Short selling $194.16M; Ratio 14.995%   │Buy│$8.08→$7.17
SINOPEC CORP (00386.HK)  -0.010 (-0.241%)    Short selling $88.45M; Ratio 14.471%   │Buy→ Hold│$4.58→$4.32
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-05-21 16:25.)

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