China's 'Big Three' Oil Giants Warn of Abnormal Stock Price Fluctuation Risks

China's three major state-owned oil companies—PetroChina, Sinopec, and CNOOC—collectively issued announcements on abnormal stock price fluctuations on the evening of March 3, 2026. The notices indicated that their stock prices had seen cumulative closing price deviations exceeding 20% over three consecutive trading days on February 27, March 2, and March 3. This unusual market movement, primarily driven by geopolitical tensions in the Middle East, led to the historic occurrence of all three companies hitting their daily 10% price limit for two consecutive days—a first in their collective history. The announcements were issued to alert investors to the associated market risks.