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Lower Oil Prices Drag Down Profits at Chinese Giant CNOOC
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Why This Matters
CNOOC Ltd reported a 12.2% decline in net profit for the third quarter due to lower oil prices, despite an increase in oil and gas production in China.
Market Impact
Market impact analysis based on bearish sentiment with 80% confidence.
Sentiment
Bearish
AI Confidence
80%
Article Context
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CNOOC Ltd, China’s top offshore crude oil and gas producer, on Thursday said its net profit fell by 12.2% from a year earlier in the third quarter, amid a decline in oil prices. CNOOC, which specializes in offshore oil and gas developments in China and internationally, reported a third-quarter net profit of $4.6 billion (32.4 billion Chinese yuan) for the July-September quarter, down by 12.2% on the year. The lower Brent crude prices this year couldn’t offset the rise in CNOOC’s oil and gas production in China and…
Original article published by
OilPrice.com
on October 30, 2025.
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Analysis and insights provided by AnalystMarkets AI.