Oil and Gas, Mint Finance

Suhas Reddy

Oil and Gas

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Commodities

<ul>
<li>For the week ending 10/Jan, US crude inventories fell by 2m barrels, missing expectations of a 3.5m barrel decrease. Gasoline and distillate stockpiles rose more than expected.</li>
<li>US natural gas inventories fell by 258 Bcf for the week ending 10/Jan, slightly missing analyst expectations of a 260 Bcf drawdown. Inventories are 2.5% above the 5-year seasonal average.</li>
<li>BP forecasts tepid Q4 earnings on low refining margins and upstream output, while TotalEnergies expects higher production and gas prices to offset lower oil prices.</li>
</ul>


For the week ending 10/Jan, US crude inventories fell by 2m barrels, missing expectations of a 3.5m barrel decrease. Gasoline and distillate stockpiles rose more than expected.
US natural gas inventories fell by 258 Bcf for the week ending 10/Jan, slightly missing analyst expectations of a 260 Bcf drawdown. Inventories are 2.5% above the 5-year seasonal average.
BP forecasts tepid Q4 earnings on low refining margins and upstream output, while TotalEnergies expects higher production and gas prices to offset lower oil prices.


[ETP 2025/03] WTI Rises on Falling Stockpiles, Henry Hub Fluctuates on Volatile Weather Forecasts

<ul>
<li>For the week ending 13/Dec, US crude inventories fell by 0.9m barrels, missing forecasts. Gasoline stocks rose more than anticipated, while distillate inventories declined more than expected.</li>
<li>US natural gas inventories fell by 125 Bcf for the week ending 13/Dec, beating analyst expectations of a 123 Bcf drawdown. Inventories are 3.8% above the 5-year seasonal average.</li>
<li>Major analysts lowered their 12-month PTs on Exxon, SLB, Halliburton, and Occidental. Also, Barclays downgraded its rating on Halliburton to Equalweight from Overweight.</li>
</ul>


For the week ending 13/Dec, US crude inventories fell by 0.9m barrels, missing forecasts. Gasoline stocks rose more than anticipated, while distillate inventories declined more than expected.
US natural gas inventories fell by 125 Bcf for the week ending 13/Dec, beating analyst expectations of a 123 Bcf drawdown. Inventories are 3.8% above the 5-year seasonal average.
Major analysts lowered their 12-month PTs on Exxon, SLB, Halliburton, and Occidental. Also, Barclays downgraded its rating on Halliburton to Equalweight from Overweight.


[ETP 2024/51] Fed’s Hawkish Tone Drags WTI Prices, Henry Hub Soars on Rising LNG Exports

<ul>
<li>For the week ending 06/Dec, US crude inventories fell by 1.4m barrels, beating expectations of a 1m barrel decrease. However, gasoline and distillate stocks rose more than expected again.</li>
<li>US natural gas inventories fell by 190 Bcf for the week ending 06/Dec, beating analyst expectations of a 175 Bcf drawdown. Inventories are 4.6% above the 5-year seasonal average.</li>
<li>Wells Fargo raised its 12-month PT for Chevron but lowered targets for Shell and Occidental. Exxon targets a CAGR of 10% in earnings and 8% in cash flow through 2030.</li>
</ul>


For the week ending 06/Dec, US crude inventories fell by 1.4m barrels, beating expectations of a 1m barrel decrease. However, gasoline and distillate stocks rose more than expected again.
US natural gas inventories fell by 190 Bcf for the week ending 06/Dec, beating analyst expectations of a 175 Bcf drawdown. Inventories are 4.6% above the 5-year seasonal average.
Wells Fargo raised its 12-month PT for Chevron but lowered targets for Shell and Occidental. Exxon targets a CAGR of 10% in earnings and 8% in cash flow through 2030.


[ETP 2024/50] WTI Rebounds on Outlook of Better Demand in 2025; Henry Hub Rises but Remains Volatile

<ul>
<li>For the week ending 22/Nov, US crude inventories fell by 1.8m barrels, beating expectations of a 1.3m barrel decrease. However, gasoline and distillate stocks rose more than expected.</li>
<li>US natural gas inventories fell by 2 Bcf for the week ending 22/Nov, missing analyst expectations of a 4 Bcf decline. Inventories are 7.2% above the 5-year seasonal average.</li>
<li>Analysts raised their 12-month price targets on Chevron while trimming their targets for Exxon and Occidental. Both JP Morgan and Morgan Stanley reiterated their Overweight ratings on Reliance Industries.</li>
</ul>


For the week ending 22/Nov, US crude inventories fell by 1.8m barrels, beating expectations of a 1.3m barrel decrease. However, gasoline and distillate stocks rose more than expected.
US natural gas inventories fell by 2 Bcf for the week ending 22/Nov, missing analyst expectations of a 4 Bcf decline. Inventories are 7.2% above the 5-year seasonal average.
Analysts raised their 12-month price targets on Chevron while trimming their targets for Exxon and Occidental. Both JP Morgan and Morgan Stanley reiterated their Overweight ratings on Reliance Industries.


[ETP 2024/48] WTI Falls on Easing Middle East Tensions, Henry Hub Moderates on Ample Supply

<ul>
<li>For the week ending 15/Nov, US crude inventories rose by 0.5m barrels, exceeding expectations of a 0.4m barrel increase. Gasoline stocks exceeded estimates, while distillates declined less than expected.</li>
<li>US natural gas inventories fell by 3 Bcf for the week ending 15/Nov, contrasting analyst expectations of a 2 Bcf buildup. Inventories are 6.4% above the 5-year seasonal average.</li>
<li>TD Cowen raised its PT on Exxon, while Morgan Stanely lowered its PT on Halliburton. Aramco and Sinopec began the construction of a refining and petrochemical complex in China.</li>
</ul>


For the week ending 15/Nov, US crude inventories rose by 0.5m barrels, exceeding expectations of a 0.4m barrel increase. Gasoline stocks exceeded estimates, while distillates declined less than expected.
US natural gas inventories fell by 3 Bcf for the week ending 15/Nov, contrasting analyst expectations of a 2 Bcf buildup. Inventories are 6.4% above the 5-year seasonal average.
TD Cowen raised its PT on Exxon, while Morgan Stanely lowered its PT on Halliburton. Aramco and Sinopec began the construction of a refining and petrochemical complex in China.


[ETP 2024/47] WTI Rises on Ukraine-Russia Tensions; Henry Hub Jumps on Cold Weather Forecasts

United States

Occidental Petroleum Corporation explores for, develops, produces, and markets crude oil and natural gas.  The Company also manufactures and markets a variety of basic chemicals, vinyls and performance chemicals. Occidental also gathers, treats, processes, transports, stores, trades and markets crude oil, natural gas, NGLs, condensate and carbon dioxide (CO2) and generates and markets power.

Price Gauge
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Occidental Petroleum (OXY US)

[ETP 2025/03] WTI Rises on Falling Stockpiles, Henry Hub Fluctuates on Volatile Weather Forecasts

US crude inventories fell less than expected, while gasoline and distillate stockpiles rose. Nat-gas inventories fall for ninth week straight. BP...

Mint Finance

[ETP 2024/51] Fed’s Hawkish Tone Drags WTI Prices, Henry Hub Soars on Rising LNG Exports

US crude inventories fell, but gasoline stocks rose and natural gas inventories beat expectations. Major analysts lowered PTs on Exxon, SLB,...

Mint Finance

[ETP 2024/50] WTI Rebounds on Outlook of Better Demand in 2025; Henry Hub Rises but Remains Volatile

US crude inventories fell more than expected, but gasoline and distillate stocks rose. Natural gas inventories beat expectations. Wells Fargo...

Mint Finance

[ETP 2024/48] WTI Falls on Easing Middle East Tensions, Henry Hub Moderates on Ample Supply

US crude stocks fell more than expected, but gasoline and distillate stocks rose. Natural gas inventories missed expectations. Analysts raised PTs...

Mint Finance

[ETP 2024/47] WTI Rises on Ukraine-Russia Tensions; Henry Hub Jumps on Cold Weather Forecasts

US crude and gasoline inventories increased more than expected. Exxon's PT increased while Halliburton's was lowered. Aramco and Sinopec started...

Mint Finance

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[ETP 2025/03] WTI Rises on Falling Stockpiles, Henry Hub Fluctuates on Volatile Weather Forecasts

​US crude inventories fell less than expected, while gasoline and distillate stockpiles rose. Nat-gas inventories fall for ninth week straight. BP...

Mint Finance

[ETP 2024/51] Fed’s Hawkish Tone Drags WTI Prices, Henry Hub Soars on Rising LNG Exports

​US crude inventories fell, but gasoline stocks rose and natural gas inventories beat expectations. Major analysts lowered PTs on Exxon, SLB,...

Mint Finance

[ETP 2024/50] WTI Rebounds on Outlook of Better Demand in 2025; Henry Hub Rises but Remains Volatile

​US crude inventories fell more than expected, but gasoline and distillate stocks rose. Natural gas inventories beat expectations. Wells Fargo...

Mint Finance

[ETP 2024/48] WTI Falls on Easing Middle East Tensions, Henry Hub Moderates on Ample Supply

​US crude stocks fell more than expected, but gasoline and distillate stocks rose. Natural gas inventories missed expectations. Analysts raised PTs...

Mint Finance

[ETP 2024/47] WTI Rises on Ukraine-Russia Tensions; Henry Hub Jumps on Cold Weather Forecasts

​US crude and gasoline inventories increased more than expected. Exxon's PT increased while Halliburton's was lowered. Aramco and Sinopec started...

Mint Finance

US crude inventories fell less than expected, while gasoline and distillate stockpiles rose. Nat-gas inventories fall for ninth week straight. BP...

US crude inventories fell, but gasoline stocks rose and natural gas inventories beat expectations. Major analysts lowered PTs on Exxon, SLB,...

US crude inventories fell more than expected, but gasoline and distillate stocks rose. Natural gas inventories beat expectations. Wells Fargo...

US crude stocks fell more than expected, but gasoline and distillate stocks rose. Natural gas inventories missed expectations. Analysts raised PTs...

US crude and gasoline inventories increased more than expected. Exxon's PT increased while Halliburton's was lowered. Aramco and Sinopec started...