CNOOC rises 1% following international oil price rally

CNOOC, which has benefited from the rise in international crude oil prices, has climbed 1.13% to HK $10.72 and traded 6.75 million shares this morning.　　With the dollar falling, the New York Mercantile Exchange's crude oil futures contract ended a two-day decline in July, climbing 2.8% to $70.01, the highest settlement price since the end of the year, after the first breakthrough of $70 trillion last year, and thus benefiting CNOOC, the most sensitive oil price fluctuation. Nomura also followed up with the latest report that the recent surge in crude oil prices is mainly due to the global liquidity is abundant, money into the oil market in order to grasp the potential recovery of the global economy opportunities, so that the bank's short-term oil price forecast can be raised.