A Sinopec facility in Chongqing, southwest China. Shares in the country’s third biggest oil producer and largest refiner and distributor rose after OPEC’s decision to slash output. Photo: Xinhua

Bounce in Chinese oil-related stocks after Opec’s surprise cut in output

CNOOC surges 5.1pc, PetroChina and Sinopec rise 3 to 4pc, after oil cartel lowers production by 750,000 barrels per day

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A Sinopec facility in Chongqing, southwest China. Shares in the country’s third biggest oil producer and largest refiner and distributor rose after OPEC’s decision to slash output. Photo: Xinhua
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