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<Research>BofAS Raises Oil Price Forecast, Lifts PETROCHINA's TP to HKD8
BofA Securities wrote in its report that market energy prices continued to slide QoQ in 2Q25, with China's thermal coal and metallurgical coal prices down by 12% and 9%, Brent ...
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<Research>BofAS Raises Oil Price Forecast, Lifts PETROCHINA's TP to HKD8
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BofA Securities wrote in its report that market energy prices continued to slide QoQ in 2Q25, with China's thermal coal and metallurgical coal prices down by 12% and 9%, Brent oil future prices down by 11%, and Northeast Asia spot liquefied natural gas (LNG) down by 12%.

Meanwhile, energy demand remained dull because of renewable energy alternatives, trade conflicts, and limited stimulus policies. In the broker's estimate, Chinese energy producers' earnings will decline QoQ in 2Q25.

Related NewsG Sachs Hikes Brent Oil Price Forecast for 2H25 to USD66/bbl
BofA Securities' global commodities team recently raised its 2025 average Brent crude oil price forecast to USD67 per barrel from USD65 per barrel. The broker increased its target price for PETROCHINA (00857.HK)  +0.100 (+1.406%)    Short selling $96.06M; Ratio 18.652%   from HKD6.8 to HKD8 and reiterated the Buy rating.

BofA Securities also lifted its target price for SINOPEC CORP (00386.HK)  +0.040 (+0.930%)    Short selling $77.03M; Ratio 18.926%   from HKD4.7 to HKD4.8, with a rating reiterated as Buy.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-07-18 16:25.)

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