Oil giant BP and Chevron stock are up after a Deepwater Horizon oil spill, and the shares of other oil companies are down as well.
Oil prices have risen on the rebound after a week of turmoil in the energy sector following the spill, which killed 11 workers.BP shares have risen 10.5% to $56.49, Chevron shares have jumped 8.4% to 97.98 cents, and Exxon Mobil has gained 7.6% to 89.88 cents.
Oil prices have fallen sharply, dropping below $100 a barrel for the first time since March 2015, but remain near a five-year low of $70 a barrel.
The stock market has rebounded from a three-day low of less than $60 per share in late November, when investors were fearful about the spill.
But that gain was offset by a sharp drop in oil prices, which fell to $70.36 per barrel on Monday, after recovering to $85.63 a barrel on Nov. 28.
Oil stocks in recent weeks have been buoyed by signs that China is stepping up efforts to clean up the oil spill.
On Monday, China’s Ministry of Natural Resources said it was working on an oil spill monitoring system, which would be used to monitor oil spills onshore and offshore.
China’s Oil Ministry has also been stepping up inspections at oil wells in the southern province of Guangdong, which is home to one of the largest oil-spill sites in the world.
China has also launched a national effort to find and clean up oil-related pollution in the country.
Oil is one of China’s main exports, accounting for almost 60% of its total exports in 2016, according to the World Bank.
The country has also announced a crackdown on pollution.
On Tuesday, President Xi Jinping urged the country to get rid of pollution from oil refineries and oil terminals.
He said pollution should be cleaned up in all industries and cities, including cities where pollution is already an issue.
“The people’s pollution is the most dangerous.
China should not let this situation go on,” Xi told the crowd at the opening of the 19th People’s Liberation Army General Headquarters on the Chinese capital’s outskirts.
“No one can blame the oil industry, but instead let the people handle the pollution.”