Oil stocks continued their upward trajectory. At the time of writing, China Oilfield Service (02883) rose 5.63% to HK$8.82; CNOOC (00883) gained 4.55% to HK$23.46; PETROCHINA (00857) increased 3.33% to HK$8.70; and SINOPEC CORP (00386) advanced 2.94% to HK$5.26. Geopolitical tensions in Iran and Cuba have intensified. Everbright Securities noted in a research report that, over the long term, persistent global instability and geopolitical uncertainty are expected to underpin a favorable oil price environment. Furthermore, the IEA has raised its crude oil demand forecast for 2026, projecting global demand growth of 930,000 barrels per day, up from 850,000 barrels per day in 2025. This revision is primarily attributed to the normalization of global economic conditions following last year's tariff volatility and current oil prices being lower than the same period last year. Ping An Securities stated that in the face of highly volatile international crude oil prices, domestic oil companies have mitigated the sensitivity of their performance to oil prices through integrated upstream and downstream operations. Simultaneously, these companies will seek more diversified crude oil supply sources, continue to explore overseas resource investment opportunities, and gradually enhance the development and utilization of domestic resources to ensure the stability of the national resource supply. Therefore, it is recommended to focus on oil companies that are consistently advancing domestic oil and gas resource exploration, have clear targets for increasing reserves and production, and possess significant potential for expansion in overseas markets.