Oil stocks led gains in Hong Kong's market. As of press time, PETROCHINA (00857) rose 3.62% to HK$8.31, CNOOC (00883) climbed 3.69% to HK$20.5, SHANGHAI PECHEM (00338) gained 1.5% to HK$1.35, and SINOPEC CORP (00386) advanced 1.45% to HK$4.19.

The rally followed OPEC+'s announcement on Sunday that eight member states led by Saudi Arabia will maintain December's production increase of 137,000 barrels per day, consistent with October and November levels. However, the group also stated it would pause output hikes from January to March next year due to seasonal factors, effectively hitting the brakes on its supply expansion plan.

The news lifted oil prices, with Brent crude briefly surpassing $65 per barrel and WTI crude hovering near $61.

Everbright Securities noted that in Q3 2025, global oil majors like ExxonMobil, Chevron, Shell, and TotalEnergies saw year-on-year declines in net profits attributable to shareholders (-14.3%, -33.9%, -9.6%, and -13.4%, respectively), pressured by falling oil prices and weak refining margins. In contrast, PETROCHINA and CNOOC reported smaller profit declines than most international peers, highlighting their resilience during the oil price downturn. The "Big Three" Chinese oil firms demonstrated cyclical resilience, supported by ongoing efforts to boost reserves and production, further underscoring their long-term value.