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With the help of the high oil price, the net pro ts of the three big oil companies in China increase greatly, causing the stock price rising dramatically with that of PetroChina by nearly 30%, Sinopec nearly 38%, CNOOC ltd. 20% and the average increase 29.3%. The main reason behind this is that the increase in the price of crude oil and oil products. For example, as the world benchmark for crude oil price, WII rose from 57.08 dollars per barrel to 74.35 dollars per barrel. It increases by 30.25% on average, which is approximately the same degree as that of the three big oil companies’ stock price.
With the help of the high oil price, the net pro ts of the three big oil companies in China increase greatly, causing the stock price rising dramatically with that of PetroChina by nearly 30%, Sinopec nearly 38%, CNOOC ltd. 20% and the average reason 29.3%. The main reason behind this is that the increase in the price of crude oil and oil products. For example, the world benchmark for crude oil price, WII rose from 57.08 dollars per barrel to 74.35 dollars per barrel. It increases by 30.25% on average, which is approximately the same degree as that of the three big oil companies’ stock price.