CNOOC Ltd. (CEO) is on the rise during Wednesday's pre-market trading on news that its WenChang oil fields have successfully run into trial production stage.
At 9:05 am ET the stock is trading at $179.65 up $8.30 from Tuesday's close.
With the advance, the stock will open above its 50-day moving average and at its highest level in a month.
Currently, through 7 wells the fields can produce approximately 14,000 barrels of oil per day.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.