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>WTI futures rose 1.6% for the week ending 27/Dec, led by China’s planned stimulus initiative and declining U.S. crude oil stockpiles.  </li>
<li>WTI options Put/Call volume ratio rose to 0.97 from 0.95 (20/Dec) last week, as call volume grew by 22.3% WoW while put volume increased by 25.2%.  </li>
<li>WTI OI PCR rose to 0.89 from 0.87 last week. Call OI inched up by 1.8% WoW, while put OI rose by 3.6%.</li>
</ul>


WTI futures rose 1.6% for the week ending 27/Dec, led by China’s planned stimulus initiative and declining U.S. crude oil stockpiles.  
WTI options Put/Call volume ratio rose to 0.97 from 0.95 (20/Dec) last week, as call volume grew by 22.3% WoW while put volume increased by 25.2%.  
WTI OI PCR rose to 0.89 from 0.87 last week. Call OI inched up by 1.8% WoW, while put OI rose by 3.6%.


[US Crude Oil Options Weekly 2024/52] WTI Rises as Crude Stockpiles Fall and China Outlook Improves

<ul>
<li>Trump’s pro-oil stance is expected to weigh on prices by boosting U.S. output in an oversupplied market. Like in his first term, he aims to expand drilling in federal lands.</li>
<li>During Trump’s first term, federal land leases averaged 1.62 million acres annually, a stark contrast to Biden’s 138,000 acres, implying a dramatic 91% decline.</li>
<li>Rising U.S. oil production has reduced OPEC+ share to 48% from 55% in 2016. OPEC+ fears further U.S. output growth under Trump could weaken its ability to sustain prices.</li>
</ul>


Trump’s pro-oil stance is expected to weigh on prices by boosting U.S. output in an oversupplied market. Like in his first term, he aims to expand drilling in federal lands.
During Trump’s first term, federal land leases averaged 1.62 million acres annually, a stark contrast to Biden’s 138,000 acres, implying a dramatic 91% decline.
Rising U.S. oil production has reduced OPEC+ share to 48% from 55% in 2016. OPEC+ fears further U.S. output growth under Trump could weaken its ability to sustain prices.


Supply Glut to Press Down WTI Crude Prices in 2025

Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Thematic (Sector/Industry)

<ul>
<li>Investor positioning and sentiment in the energy sector mean potential upside surprises</li>
<li>The US Natural Gas price breakout will impact European and Asian pricing</li>
<li>Our basket of Asian companies provides a mix of cheap growth and income</li>
</ul>


Investor positioning and sentiment in the energy sector mean potential upside surprises
The US Natural Gas price breakout will impact European and Asian pricing
Our basket of Asian companies provides a mix of cheap growth and income


Natural Gas: The Bridge Fuel, The Breakout Trade - A Basket of Asian Gas Companies

<ul>
<li>The US oil and gas rig count remained unchanged for the third straight week at 589 for the week ending on 27/Dec.</li>
<li>For the week ending 20/Dec, US oil production moderately fell to 13.59m bpd from 13.6m bpd the week prior.</li>
<li>The number of active US oil and gas rigs remained steady at 483 and 102, respectively. US producers added one rig in North Dakota and cut one in Texas.</li>
</ul>


The US oil and gas rig count remained unchanged for the third straight week at 589 for the week ending on 27/Dec.
For the week ending 20/Dec, US oil production moderately fell to 13.59m bpd from 13.6m bpd the week prior.
The number of active US oil and gas rigs remained steady at 483 and 102, respectively. US producers added one rig in North Dakota and cut one in Texas.


US Rig Count Steady for Third Straight Week as Number of Oil and Gas Rigs Remain Flat

<ul>
<li>For the week ending 20/Dec, U.S. crude inventories fell by 4.2m barrels, beating expectations of a 0.7m barrel decrease. Distillate stocks fell more than expected, while gasoline inventories unexpectedly rose.</li>
<li>U.S. natural gas inventories fell by 93 Bcf for the week ending 20/Dec, missing analyst expectations of a 98 Bcf drawdown. Inventories are 4.9% above the 5-year seasonal average.</li>
<li>Chevron signed a 20-year deal with Energy Transfer for 2 million tonnes of LNG annually. Stifel lowered Schlumberger's 12-month price target while maintaining a Buy rating.</li>
</ul>


For the week ending 20/Dec, U.S. crude inventories fell by 4.2m barrels, beating expectations of a 0.7m barrel decrease. Distillate stocks fell more than expected, while gasoline inventories unexpectedly rose.
U.S. natural gas inventories fell by 93 Bcf for the week ending 20/Dec, missing analyst expectations of a 98 Bcf drawdown. Inventories are 4.9% above the 5-year seasonal average.
Chevron signed a 20-year deal with Energy Transfer for 2 million tonnes of LNG annually. Stifel lowered Schlumberger's 12-month price target while maintaining a Buy rating.


[ETP 2024/52] WTI Recovers on China’s Stimulus Plans, Henry Hub Falls on Volatile Weather Forecasts

United States

Crude oil is a naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials. Crude oil can be refined to produce usable products such as gasoline, diesel and various forms of petrochemicals. It is a nonrenewable resource, also known as a fossil fuel, which means that it can't be replaced naturally at the rate we consume it and is therefore a limited resource.

Price Gauge
52-week Range	0.00 - 0.00
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Crude Oil (CL1 COM COMDTY)

[US Crude Oil Options Weekly 2024/52] WTI Rises as Crude Stockpiles Fall and China Outlook Improves

WTI futures up 1.6% on China stimulus and US stockpile decline. Put/Call volume ratio rose to 0.97 from 0.95, while Put/Call OI ratio rose to 0.89...

Mint Finance

Supply Glut to Press Down WTI Crude Prices in 2025

The 2025 crude oil price outlook is bearish, with weak price rise catalysts. Trump’s plan to boost US output in an oversupplied market and...

Mint Finance

Natural Gas: The Bridge Fuel, The Breakout Trade - A Basket of Asian Gas Companies

A basket of Asian oil and gas plays poised to benefit as US Natural Gas prices rise and impact global pricing. Basket offers a mix of income and...

Rikki Malik

US Rig Count Steady for Third Straight Week as Number of Oil and Gas Rigs Remain Flat

US oil and gas rig count holds steady, with slight decrease in oil production and minor shifts in active rigs across states.

Mint Finance

[ETP 2024/52] WTI Recovers on China’s Stimulus Plans, Henry Hub Falls on Volatile Weather Forecasts

US crude inventories beat expectations, while nat-gas inventories missed analyst expectations. Chevron signed a 20-year LNG deal with Energy...

Mint Finance

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[US Crude Oil Options Weekly 2024/52] WTI Rises as Crude Stockpiles Fall and China Outlook Improves

​WTI futures up 1.6% on China stimulus and US stockpile decline. Put/Call volume ratio rose to 0.97 from 0.95, while Put/Call OI ratio rose to 0.89...

Mint Finance

Supply Glut to Press Down WTI Crude Prices in 2025

The 2025 crude oil price outlook is bearish, with weak price rise catalysts. Trump’s plan to boost US output in an oversupplied market and...

Mint Finance

Natural Gas: The Bridge Fuel, The Breakout Trade - A Basket of Asian Gas Companies

A basket of Asian oil and gas plays poised to benefit as US Natural Gas prices rise and impact global pricing. Basket offers a mix of income and...

Rikki Malik

US Rig Count Steady for Third Straight Week as Number of Oil and Gas Rigs Remain Flat

​US oil and gas rig count holds steady, with slight decrease in oil production and minor shifts in active rigs across states.

Mint Finance

[ETP 2024/52] WTI Recovers on China’s Stimulus Plans, Henry Hub Falls on Volatile Weather Forecasts

​US crude inventories beat expectations, while nat-gas inventories missed analyst expectations. Chevron signed a 20-year LNG deal with Energy...

Mint Finance

WTI futures up 1.6% on China stimulus and US stockpile decline. Put/Call volume ratio rose to 0.97 from 0.95, while Put/Call OI ratio rose to 0.89...

US oil and gas rig count holds steady, with slight decrease in oil production and minor shifts in active rigs across states.

US crude inventories beat expectations, while nat-gas inventories missed analyst expectations. Chevron signed a 20-year LNG deal with Energy...