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 held its 2025 and 2026 demand growth forecasts steady. The IEA’s upward revision reflects a catch-up adjustment for 2024, not a fundamental shift in its forward outlook.</li>
<li>The EIA raised its demand growth forecast by 7.8% for 2025 but cut estimates by 13.5% for 2026. Meanwhile, it raised supply forecasts and projected inventory builds for both years.</li>
<li>The EIA expects Henry Hub prices to rise in 2025 and 2026 from current levels, though it revised its 2025 forecast 3.5% lower and lifted 2026 estimates by 4.3%.</li>
</ul>


OPEC held its 2025 and 2026 demand growth forecasts steady. The IEA’s upward revision reflects a catch-up adjustment for 2024, not a fundamental shift in its forward outlook.
The EIA raised its demand growth forecast by 7.8% for 2025 but cut estimates by 13.5% for 2026. Meanwhile, it raised supply forecasts and projected inventory builds for both years.
The EIA expects Henry Hub prices to rise in 2025 and 2026 from current levels, though it revised its 2025 forecast 3.5% lower and lifted 2026 estimates by 4.3%.


OPEC, EIA, and IEA Deliver Mixed Signals Amid Trade Uncertainty and Oversupply Concerns

<ul>
<li>For the week ending 09/May, U.S. crude inventories grew by 3.5m barrels (vs. expectations of a 2m barrel fall). Meanwhile, gasoline and distillate stockpiles unexpectedly fell.</li>
<li>The EIA reported a 110 Bcf storage build, slightly lower than the 111 Bcf forecast. Storage levels are 2.6% above the five-year average.</li>
<li>Saudi Aramco's Q1 profit fell 4.8% YoY but beat estimates by 2.8%. Morgan Stanley downgraded BP to Underweight from Equalweight, while HSBC lowered Chevron to Hold from Buy.</li>
</ul>


For the week ending 09/May, U.S. crude inventories grew by 3.5m barrels (vs. expectations of a 2m barrel fall). Meanwhile, gasoline and distillate stockpiles unexpectedly fell.
The EIA reported a 110 Bcf storage build, slightly lower than the 111 Bcf forecast. Storage levels are 2.6% above the five-year average.
Saudi Aramco's Q1 profit fell 4.8% YoY but beat estimates by 2.8%. Morgan Stanley downgraded BP to Underweight from Equalweight, while HSBC lowered Chevron to Hold from Buy.


[ETP 2025/20] WTI Skittish on Trade Hopes and Oversupply Fears; Henry Hub Falls on Tepid Demand

<ul>
<li>WTI futures rose 4.7% for the week ending 09/May, aided by easing U.S.-China trade tensions, lower U.S. output, and falling crude inventories.</li>
<li>The U.S. rig count fell by six to 578. The oil rig count fell by five to 474, while gas rigs remained flat at 101.</li>
<li>WTI OI PCR fell to 0.81 on 09/May from 0.84 on 02/May. Call OI rose by 4% WoW, while put OI inched up 1.2%.</li>
</ul>


WTI futures rose 4.7% for the week ending 09/May, aided by easing U.S.-China trade tensions, lower U.S. output, and falling crude inventories.
The U.S. rig count fell by six to 578. The oil rig count fell by five to 474, while gas rigs remained flat at 101.
WTI OI PCR fell to 0.81 on 09/May from 0.84 on 02/May. Call OI rose by 4% WoW, while put OI inched up 1.2%.


[US Crude Oil Options Weekly 2025/19] WTI Rebounds on U.S.-China Trade Talks and Declining Output

<ul>
<li>For the week ending 02/May, U.S. crude inventories fell by 2m barrels (vs. expectations of a 1.7m barrel fall). Gasoline stockpiles unexpectedly rose; distillate inventories fell less than anticipated.</li>
<li>The EIA reported a 104 Bcf storage build, slightly exceeding the 103 Bcf forecast. Storage levels are 1.4% above the five-year average.</li>
<li>Analysts cut price targets on Exxon, Chevron, Shell, Halliburton, and Schlumberger. Occidental exceeded Q1 EPS estimates but narrowly missed revenue forecasts.</li>
</ul>


For the week ending 02/May, U.S. crude inventories fell by 2m barrels (vs. expectations of a 1.7m barrel fall). Gasoline stockpiles unexpectedly rose; distillate inventories fell less than anticipated.
The EIA reported a 104 Bcf storage build, slightly exceeding the 103 Bcf forecast. Storage levels are 1.4% above the five-year average.
Analysts cut price targets on Exxon, Chevron, Shell, Halliburton, and Schlumberger. Occidental exceeded Q1 EPS estimates but narrowly missed revenue forecasts.


[ETP 2025/19] WTI Wavers on Trade Talk Hopes, Henry Hub Pressured by Uncertain Demand Outlook

<ul>
<li>WTI futures fell 7.5% for the week ending 02/May, weighed by OPEC supply hike and uncertainty over U.S.-China trade negotiations.</li>
<li>The U.S. rig count fell by three to 584. The oil rig count fell by four to 479, while gas rigs grew by two to 101.</li>
<li>WTI OI PCR inched up to 0.84 on 02/May from 0.82 on 25/Apr. Call OI rose by 7.1% WoW, while put OI increased by 8.9%.</li>
</ul>


WTI futures fell 7.5% for the week ending 02/May, weighed by OPEC supply hike and uncertainty over U.S.-China trade negotiations.
The U.S. rig count fell by three to 584. The oil rig count fell by four to 479, while gas rigs grew by two to 101.
WTI OI PCR inched up to 0.84 on 02/May from 0.82 on 25/Apr. Call OI rose by 7.1% WoW, while put OI increased by 8.9%.


[US Crude Oil Options Weekly 2025/18] WTI Tumbles on OPEC Supply Boost and Economic Growth Fears

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 Deliver Mixed Signals Amid Trade Uncertainty and Oversupply Concerns

OPEC maintains steady demand growth forecasts for 2025 and 2026, while IEA and EIA show mixed outlooks with adjustments in supply and prices.

Mint Finance

[ETP 2025/20] WTI Skittish on Trade Hopes and Oversupply Fears; Henry Hub Falls on Tepid Demand

US crude inventories rose, gasoline and distillate stockpiles fell. US nat-gas storage build missed estimates. Aramco's Q1 profit dropped but beat...

Mint Finance

[US Crude Oil Options Weekly 2025/19] WTI Rebounds on U.S.-China Trade Talks and Declining Output

WTI futures rose 4.7% last week due to easing trade tensions, lower U.S. output, and falling inventories. U.S. rig count fell by 6 to 578, with...

Mint Finance

[ETP 2025/19] WTI Wavers on Trade Talk Hopes, Henry Hub Pressured by Uncertain Demand Outlook

US crude inventories fell, gasoline stockpiles rose, and analysts cut price targets on major oil companies while Occidental exceeded Q1 EPS...

Mint Finance

[US Crude Oil Options Weekly 2025/18] WTI Tumbles on OPEC Supply Boost and Economic Growth Fears

WTI futures dropped 7.5% due to OPEC supply increase and trade uncertainty. U.S. rig count fell by 3 to 584, with oil rigs down by 4 and gas rigs...

Mint Finance

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

OPEC, EIA, and IEA Deliver Mixed Signals Amid Trade Uncertainty and Oversupply Concerns

​OPEC maintains steady demand growth forecasts for 2025 and 2026, while IEA and EIA show mixed outlooks with adjustments in supply and prices.

Mint Finance

[ETP 2025/20] WTI Skittish on Trade Hopes and Oversupply Fears; Henry Hub Falls on Tepid Demand

​US crude inventories rose, gasoline and distillate stockpiles fell. US nat-gas storage build missed estimates. Aramco's Q1 profit dropped but beat...

Mint Finance

[US Crude Oil Options Weekly 2025/19] WTI Rebounds on U.S.-China Trade Talks and Declining Output

​WTI futures rose 4.7% last week due to easing trade tensions, lower U.S. output, and falling inventories. U.S. rig count fell by 6 to 578, with...

Mint Finance

[ETP 2025/19] WTI Wavers on Trade Talk Hopes, Henry Hub Pressured by Uncertain Demand Outlook

​US crude inventories fell, gasoline stockpiles rose, and analysts cut price targets on major oil companies while Occidental exceeded Q1 EPS...

Mint Finance

[US Crude Oil Options Weekly 2025/18] WTI Tumbles on OPEC Supply Boost and Economic Growth Fears

​WTI futures dropped 7.5% due to OPEC supply increase and trade uncertainty. U.S. rig count fell by 3 to 584, with oil rigs down by 4 and gas rigs...

Mint Finance

OPEC maintains steady demand growth forecasts for 2025 and 2026, while IEA and EIA show mixed outlooks with adjustments in supply and prices.

US crude inventories rose, gasoline and distillate stockpiles fell. US nat-gas storage build missed estimates. Aramco's Q1 profit dropped but beat...

WTI futures rose 4.7% last week due to easing trade tensions, lower U.S. output, and falling inventories. U.S. rig count fell by 6 to 578, with...

US crude inventories fell, gasoline stockpiles rose, and analysts cut price targets on major oil companies while Occidental exceeded Q1 EPS...

WTI futures dropped 7.5% due to OPEC supply increase and trade uncertainty. U.S. rig count fell by 3 to 584, with oil rigs down by 4 and gas rigs...