00386 Should I Buy

CLSA's analyst rating is based on the expectation that oil prices will remain above USD80 per barrel in the second half of 2026, despite a forecasted average of USD94 per barrel in the first half. The firm anticipates that Chinese oil companies, particularly PETROCHINA and CNOOC, will benefit from this price stability, leading to significant year-on-year earnings growth. CLSA considers these stocks to be relatively defensive investments due to their solid fundamentals and attractive dividend yields.