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>OPEC lowered its 2025 oil demand growth forecast to 1.3m bpd from 1.45m bpd, while the IEA and EIA also revised forecasts down to 0.90m bpd and 0.73m bpd, respectively.</li>
<li>The EIA significantly lowered its 2025-2026 crude oil price outlook, citing the dual impact of Trump's tariffs and OPEC+'s decision to boost output.</li>
<li>U.S. tariffs and China's retaliatory measures are injecting uncertainty into global oil trade and refining margins.</li>
</ul>


OPEC lowered its 2025 oil demand growth forecast to 1.3m bpd from 1.45m bpd, while the IEA and EIA also revised forecasts down to 0.90m bpd and 0.73m bpd, respectively.
The EIA significantly lowered its 2025-2026 crude oil price outlook, citing the dual impact of Trump's tariffs and OPEC+'s decision to boost output.
U.S. tariffs and China's retaliatory measures are injecting uncertainty into global oil trade and refining margins.


OPEC, EIA, and IEA Lower Oil Price Projections; Natural Gas Expected to Be Resilient

<ul>
<li>WTI futures rose 4.1% for the week ending 17/Apr, driven primarily by U.S.-China trade talks and falling U.S. gasoline and distillate inventories.</li>
<li>The U.S. rig count rose by two to 585. The oil rig count rose by one to 481, while gas rigs also grew by one to 96.</li>
<li>WTI OI PCR inched up to 0.81 on 17/Apr from 0.80 on 11/Apr. Call OI decreased by 13% WoW, while put OI dropped by 11.9%.</li>
</ul>


WTI futures rose 4.1% for the week ending 17/Apr, driven primarily by U.S.-China trade talks and falling U.S. gasoline and distillate inventories.
The U.S. rig count rose by two to 585. The oil rig count rose by one to 481, while gas rigs also grew by one to 96.
WTI OI PCR inched up to 0.81 on 17/Apr from 0.80 on 11/Apr. Call OI decreased by 13% WoW, while put OI dropped by 11.9%.


[US Crude Oil Options Weekly 2025/16] WTI Rebounds on Improved Trade Outlook and Strong U.S. Demand

<ul>
<li>For the week ending 11/Apr, U.S. crude inventories rose by 0.5m barrels (vs. expectations of a 0.4m barrel rise). Gasoline and distillate stockpiles fell more than expected.</li>
<li>Henry Hub headed for a fourth straight daily loss, with analysts expecting a 24 Bcf build in U.S. natural gas storage for the week ending 11/Apr.</li>
<li>Analysts cut price targets for Exxon, Chevron, Occidental, Schlumberger, and Halliburton, while TotalEnergies expects Q1 hydrocarbon production at the high end of its guidance range.</li>
</ul>


For the week ending 11/Apr, U.S. crude inventories rose by 0.5m barrels (vs. expectations of a 0.4m barrel rise). Gasoline and distillate stockpiles fell more than expected.
Henry Hub headed for a fourth straight daily loss, with analysts expecting a 24 Bcf build in U.S. natural gas storage for the week ending 11/Apr.
Analysts cut price targets for Exxon, Chevron, Occidental, Schlumberger, and Halliburton, while TotalEnergies expects Q1 hydrocarbon production at the high end of its guidance range.


[ETP 2025/16] WTI Eyes First Weekly Gain in April; Mild Forecasts Drag Down Henry Hub

<ul>
<li>WTI futures fell 0.8% for the week ending 11/Apr, driven primarily by uncertainty around tariffs and escalating trade tensions between the U.S. and China.</li>
<li>The U.S. rig count fell by seven to 583. The oil rig count dropped by nine to 480, while gas rigs grew by one to 97.</li>
<li>WTI OI PCR fell to 0.80 on 11/Apr compared to 0.88 on 04/Apr. Call OI increased by 19.3% WoW, while put OI grew by 9.1%.</li>
</ul>


WTI futures fell 0.8% for the week ending 11/Apr, driven primarily by uncertainty around tariffs and escalating trade tensions between the U.S. and China.
The U.S. rig count fell by seven to 583. The oil rig count dropped by nine to 480, while gas rigs grew by one to 97.
WTI OI PCR fell to 0.80 on 11/Apr compared to 0.88 on 04/Apr. Call OI increased by 19.3% WoW, while put OI grew by 9.1%.


[US Crude Oil Options Weekly 2025/15] WTI Pauses Slide on Tariff Delay

<ul>
<li>For the week ending 04/Apr, U.S. crude inventories rose by 2.6m barrels (vs. expectations of 2.2m rise), and gasoline stockpiles fell less than expected.</li>
<li>US natural gas inventories rose by 57 Bcf for the week ending 04/Apr, missing analyst expectations of a 60 Bcf build. Inventories are 2.1% below the 5-year seasonal average.</li>
<li>Trump cancelled BP and Shell’s licenses for gas projects in Venezuela. UBS lowered its price target for Chevron, Exxon, Occidental, Halliburton, and Schlumberger.</li>
</ul>


For the week ending 04/Apr, U.S. crude inventories rose by 2.6m barrels (vs. expectations of 2.2m rise), and gasoline stockpiles fell less than expected.
US natural gas inventories rose by 57 Bcf for the week ending 04/Apr, missing analyst expectations of a 60 Bcf build. Inventories are 2.1% below the 5-year seasonal average.
Trump cancelled BP and Shell’s licenses for gas projects in Venezuela. UBS lowered its price target for Chevron, Exxon, Occidental, Halliburton, and Schlumberger.


[ETP 2025/15] Tariff Pause Halts Slide in WTI and Henry Hub but U.S.-China Tensions Weigh on Prices

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.

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Crude Oil (CL1 COM COMDTY)

OPEC, EIA, and IEA Lower Oil Price Projections; Natural Gas Expected to Be Resilient

OPEC, IEA, and EIA lower oil demand growth forecasts for 2025, while EIA reduces crude oil price outlook due to Trump's tariffs and OPEC+ output...

Mint Finance

[US Crude Oil Options Weekly 2025/16] WTI Rebounds on Improved Trade Outlook and Strong U.S. Demand

WTI futures rose 4.1% on U.S.-China trade talks and falling inventories. U.S. rig count up by two. WTI OI PCR slightly increased to 0.81.

Mint Finance

[ETP 2025/16] WTI Eyes First Weekly Gain in April; Mild Forecasts Drag Down Henry Hub

US crude inventories rise slightly, gasoline and distillate stockpiles fall; natural gas storage expected to increase; oil giants face price...

Mint Finance

[US Crude Oil Options Weekly 2025/15] WTI Pauses Slide on Tariff Delay

WTI futures dropped 0.8% due to trade tensions, US rig count fell by 7 while oil rig count dropped by 9. WTI OI PCR decreased to 0.80 on 11/Apr...

Mint Finance

[ETP 2025/15] Tariff Pause Halts Slide in WTI and Henry Hub but U.S.-China Tensions Weigh on Prices

US oil inventories rise, gasoline stockpiles fall less than expected. Natural gas inventories miss analyst expectations. Trump cancels BP and...

Mint Finance

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

OPEC, EIA, and IEA Lower Oil Price Projections; Natural Gas Expected to Be Resilient

​OPEC, IEA, and EIA lower oil demand growth forecasts for 2025, while EIA reduces crude oil price outlook due to Trump's tariffs and OPEC+ output...

Mint Finance

[US Crude Oil Options Weekly 2025/16] WTI Rebounds on Improved Trade Outlook and Strong U.S. Demand

​WTI futures rose 4.1% on U.S.-China trade talks and falling inventories. U.S. rig count up by two. WTI OI PCR slightly increased to 0.81.

Mint Finance

[ETP 2025/16] WTI Eyes First Weekly Gain in April; Mild Forecasts Drag Down Henry Hub

​US crude inventories rise slightly, gasoline and distillate stockpiles fall; natural gas storage expected to increase; oil giants face price...

Mint Finance

[US Crude Oil Options Weekly 2025/15] WTI Pauses Slide on Tariff Delay

​WTI futures dropped 0.8% due to trade tensions, US rig count fell by 7 while oil rig count dropped by 9. WTI OI PCR decreased to 0.80 on 11/Apr...

Mint Finance

[ETP 2025/15] Tariff Pause Halts Slide in WTI and Henry Hub but U.S.-China Tensions Weigh on Prices

​US oil inventories rise, gasoline stockpiles fall less than expected. Natural gas inventories miss analyst expectations. Trump cancels BP and...

Mint Finance

OPEC, IEA, and EIA lower oil demand growth forecasts for 2025, while EIA reduces crude oil price outlook due to Trump's tariffs and OPEC+ output...

WTI futures rose 4.1% on U.S.-China trade talks and falling inventories. U.S. rig count up by two. WTI OI PCR slightly increased to 0.81.

US crude inventories rise slightly, gasoline and distillate stockpiles fall; natural gas storage expected to increase; oil giants face price...

WTI futures dropped 0.8% due to trade tensions, US rig count fell by 7 while oil rig count dropped by 9. WTI OI PCR decreased to 0.80 on 11/Apr...

US oil inventories rise, gasoline stockpiles fall less than expected. Natural gas inventories miss analyst expectations. Trump cancels BP and...