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 21/Feb, U.S. crude inventories dropped by 2.3m barrels, contradicting expectations of a 2.5m barrel build. Gasoline stockpiles unexpectedly rose, while distillate stocks surged more than expected.</li>
<li>U.S. natural gas inventories fell by 261 Bcf for the week ending 21/Feb, lower than analyst expectations of a 276 Bcf drawdown. Inventories are 11.5% below the 5-year seasonal average.</li>
<li>BP pivots back to fossil fuels, cutting renewables and reducing its quarterly buyback to USD 0.75 billion from USD 1.75 billion. President Trump revoked Chevron's license to operate in Venezuela.</li>
</ul>


For the week ending 21/Feb, U.S. crude inventories dropped by 2.3m barrels, contradicting expectations of a 2.5m barrel build. Gasoline stockpiles unexpectedly rose, while distillate stocks surged more than expected.
U.S. natural gas inventories fell by 261 Bcf for the week ending 21/Feb, lower than analyst expectations of a 276 Bcf drawdown. Inventories are 11.5% below the 5-year seasonal average.
BP pivots back to fossil fuels, cutting renewables and reducing its quarterly buyback to USD 0.75 billion from USD 1.75 billion. President Trump revoked Chevron's license to operate in Venezuela.


[ETP 2025/09] WTI Drops on Trade Tensions, Henry Hub Falls to Forecasts of Milder Temperatures

<ul>
<li>WTI futures fell by 0.5% for the week ending 21/Feb, marking its fifth consecutive weekly drop. Prices fell due to bearish economic data and rising crude inventories.</li>
<li>WTI options Put/Call volume ratio surged to 1.62 on 21/Feb (Fri) from 0.94 on 14/Feb, as call volume rose by 15.9% WoW while put volume jumped by 100%.  </li>
<li>WTI OI PCR fell to 0.95 on 21/Feb compared to 0.96 on 14/Feb. Call OI increased by 6.5% WoW, while put OI rose by 6.1%.</li>
</ul>


WTI futures fell by 0.5% for the week ending 21/Feb, marking its fifth consecutive weekly drop. Prices fell due to bearish economic data and rising crude inventories.
WTI options Put/Call volume ratio surged to 1.62 on 21/Feb (Fri) from 0.94 on 14/Feb, as call volume rose by 15.9% WoW while put volume jumped by 100%.  
WTI OI PCR fell to 0.95 on 21/Feb compared to 0.96 on 14/Feb. Call OI increased by 6.5% WoW, while put OI rose by 6.1%.


[US Crude Oil Options Weekly 2025/08] WTI Surrendered Gains on Weak Economic Signals

<ul>
<li>U.S. oil and gas rig count rose by four for the week ending 21/Feb, marking the fourth straight weekly gain and bringing the total to 592—the highest since June.</li>
<li>For the week ending 14/Feb, U.S. oil production held steady at 13.49 million bpd, showing little change from the previous week.</li>
<li>The number of U.S. oil rigs rose by 7 to 488, while gas rigs fell by 2 to 99. The rig count in the Permian basin remained unchanged at 304.  </li>
</ul>


U.S. oil and gas rig count rose by four for the week ending 21/Feb, marking the fourth straight weekly gain and bringing the total to 592—the highest since June.
For the week ending 14/Feb, U.S. oil production held steady at 13.49 million bpd, showing little change from the previous week.
The number of U.S. oil rigs rose by 7 to 488, while gas rigs fell by 2 to 99. The rig count in the Permian basin remained unchanged at 304.  


U.S. Oil & Gas Rig Count Climbs for Fourth Week, Hits Highest Since June

<ul>
<li>For the week ending 14/Feb, U.S. crude inventories increased by 4.6m barrels, exceeding expectations of a 3.2m barrel build. Gasoline stockpiles surprisingly fell, while distillate stocks dropped more than expected.</li>
<li>U.S. natural gas inventories fell by 196 Bcf for the week ending 14/Feb, beating analyst expectations of a 191 Bcf drawdown. Inventories are 5.3% below the 5-year seasonal average.</li>
<li>Occidental's Q4 adjusted EPS rose 8.1% YoY, beating estimates by 18.1%. However, it posted a net loss of USD 297 million. Wolfe Research, UBS, and Susquehanna raised price targets.</li>
</ul>


For the week ending 14/Feb, U.S. crude inventories increased by 4.6m barrels, exceeding expectations of a 3.2m barrel build. Gasoline stockpiles surprisingly fell, while distillate stocks dropped more than expected.
U.S. natural gas inventories fell by 196 Bcf for the week ending 14/Feb, beating analyst expectations of a 191 Bcf drawdown. Inventories are 5.3% below the 5-year seasonal average.
Occidental's Q4 adjusted EPS rose 8.1% YoY, beating estimates by 18.1%. However, it posted a net loss of USD 297 million. Wolfe Research, UBS, and Susquehanna raised price targets.


[ETP 2025/08] WTI Rises on Supply Disruptions, While Henry Hub Surges on Cold Snap

<ul>
<li>OPEC kept its 2025 and 2026 oil demand growth forecasts steady, while EIA and IEA raised their estimates for 2025 by 3% and 4.8%, respectively.</li>
<li>EIA sees India leading oil demand growth, with consumption rising 0.3m bpd in 2025 and 2026, while China’s demand is expected to increase by 0.2m bpd over the same period.</li>
<li>Among the nine OPEC members with quotas, production fell 107k bpd MoM to 21.23m bpd, just below the 21.24m bpd target. Saudi Arabia led the decline in output.</li>
</ul>


OPEC kept its 2025 and 2026 oil demand growth forecasts steady, while EIA and IEA raised their estimates for 2025 by 3% and 4.8%, respectively.
EIA sees India leading oil demand growth, with consumption rising 0.3m bpd in 2025 and 2026, while China’s demand is expected to increase by 0.2m bpd over the same period.
Among the nine OPEC members with quotas, production fell 107k bpd MoM to 21.23m bpd, just below the 21.24m bpd target. Saudi Arabia led the decline in output.


OPEC Keeps Oil Demand Forecasts Steady While the EIA and IEA Raise Outlook for 2025

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)

[ETP 2025/09] WTI Drops on Trade Tensions, Henry Hub Falls to Forecasts of Milder Temperatures

US oil inventories drop, defying expectations. Natural gas inventories fall below analyst predictions. BP shifts focus back to fossil fuels, Trump...

Mint Finance

[US Crude Oil Options Weekly 2025/08] WTI Surrendered Gains on Weak Economic Signals

WTI futures fell for the fifth consecutive week due to bearish economic data and rising crude inventories, with options Put/Call volume ratio...

Mint Finance

U.S. Oil & Gas Rig Count Climbs for Fourth Week, Hits Highest Since June

US oil and gas rig count continues to rise, reaching highest level since June with 592 rigs, while oil production remains steady at 13.49 million...

Mint Finance

[ETP 2025/08] WTI Rises on Supply Disruptions, While Henry Hub Surges on Cold Snap

US crude inventories rose more than expected, gasoline stockpiles fell, and natural gas inventories beat analyst expectations. Occidental's Q4 EPS...

Mint Finance

OPEC Keeps Oil Demand Forecasts Steady While the EIA and IEA Raise Outlook for 2025

OPEC maintains oil demand forecasts for 2025, while EIA and IEA raise estimates; OPEC production falls below target with Saudi Arabia leading the...

Mint Finance

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[ETP 2025/09] WTI Drops on Trade Tensions, Henry Hub Falls to Forecasts of Milder Temperatures

​US oil inventories drop, defying expectations. Natural gas inventories fall below analyst predictions. BP shifts focus back to fossil fuels, Trump...

Mint Finance

[US Crude Oil Options Weekly 2025/08] WTI Surrendered Gains on Weak Economic Signals

​WTI futures fell for the fifth consecutive week due to bearish economic data and rising crude inventories, with options Put/Call volume ratio...

Mint Finance

U.S. Oil & Gas Rig Count Climbs for Fourth Week, Hits Highest Since June

​US oil and gas rig count continues to rise, reaching highest level since June with 592 rigs, while oil production remains steady at 13.49 million...

Mint Finance

[ETP 2025/08] WTI Rises on Supply Disruptions, While Henry Hub Surges on Cold Snap

​US crude inventories rose more than expected, gasoline stockpiles fell, and natural gas inventories beat analyst expectations. Occidental's Q4 EPS...

Mint Finance

OPEC Keeps Oil Demand Forecasts Steady While the EIA and IEA Raise Outlook for 2025

​OPEC maintains oil demand forecasts for 2025, while EIA and IEA raise estimates; OPEC production falls below target with Saudi Arabia leading the...

Mint Finance

US oil inventories drop, defying expectations. Natural gas inventories fall below analyst predictions. BP shifts focus back to fossil fuels, Trump...

WTI futures fell for the fifth consecutive week due to bearish economic data and rising crude inventories, with options Put/Call volume ratio...

US oil and gas rig count continues to rise, reaching highest level since June with 592 rigs, while oil production remains steady at 13.49 million...

US crude inventories rose more than expected, gasoline stockpiles fell, and natural gas inventories beat analyst expectations. Occidental's Q4 EPS...

OPEC maintains oil demand forecasts for 2025, while EIA and IEA raise estimates; OPEC production falls below target with Saudi Arabia leading the...