Oil stocks were broadly active in trading. At the time of writing, China Oilfield Services (02883) rose 4.19% to HK$7.71; CNOOC (00883) gained 2.67% to HK$21.5; PETROCHINA (00857) increased 1.73% to HK$8.25; and SINOPEC CORP (00386) edged up 0.65% to HK$4.65. Market sentiment was influenced by concerns that escalating tensions in the Middle East could disrupt oil supplies, coupled with close attention to the risks of interruptions to Russian oil shipments. These factors collectively drove international crude prices higher on Monday. By the market close, the price of light sweet crude for February delivery on the New York Mercantile Exchange settled at $59.50 per barrel, marking a gain of 0.64%. Meanwhile, the price of Brent crude for March delivery on the London exchange closed at $63.87 per barrel, up 0.84%. Previously, the Organization of the Petroleum Exporting Countries decided that eight member nations would pause planned increases in oil output during the first quarter of 2026, aiming to address potential oversupply concerns. On January 4th, representatives from Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman convened via an online meeting. Steering clear of discussions on political crises affecting several members of the producer group, the meeting concluded with a decision to maintain current oil production levels unchanged.