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>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

<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

<ul>
<li>WTI futures fell 2.6% for the week ending 20/Dec, pressured by weak economic data, a robust dollar, and the Fed’s hawkish outlook on rate cuts in 2025.  </li>
<li>WTI options Put/Call volume ratio fell to 0.95 from 1.15 (13/Dec) last week, as call volume dropped by 52.5% WoW while put volume decreased by 60.8%.   </li>
<li>WTI OI PCR rose to 0.87 from 0.85 last week. Call OI fell by 18.5% WoW, while put OI declined by 16.3%. </li>
</ul>


WTI futures fell 2.6% for the week ending 20/Dec, pressured by weak economic data, a robust dollar, and the Fed’s hawkish outlook on rate cuts in 2025.  
WTI options Put/Call volume ratio fell to 0.95 from 1.15 (13/Dec) last week, as call volume dropped by 52.5% WoW while put volume decreased by 60.8%.   
WTI OI PCR rose to 0.87 from 0.85 last week. Call OI fell by 18.5% WoW, while put OI declined by 16.3%. 


[US Crude Oil Options Weekly 2024/51] WTI Futures Fall on Weak China Data and Fed Hawkishness

<ul>
<li>The US oil and gas rig count remained unchanged for the second straight week at 589 for the week ending on 20/Dec.</li>
<li>For the week ending 13/Dec, US oil production moderately fell to 13.6m bpd from its record high of 13.63m bpd the week prior.</li>
<li>The number of active US oil rigs grew to 483, while the US gas rig count fell by one to 102.</li>
</ul>


The US oil and gas rig count remained unchanged for the second straight week at 589 for the week ending on 20/Dec.
For the week ending 13/Dec, US oil production moderately fell to 13.6m bpd from its record high of 13.63m bpd the week prior.
The number of active US oil rigs grew to 483, while the US gas rig count fell by one to 102.


U.S. Rig Count Remains Unchanged for the Second Consecutive Week

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)

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

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

[US Crude Oil Options Weekly 2024/51] WTI Futures Fall on Weak China Data and Fed Hawkishness

WTI futures dropped 2.6% due to weak economic data, a strong dollar, and the Fed's hawkish rate cut outlook. Put/Call volume ratio decreased,...

Mint Finance

U.S. Rig Count Remains Unchanged for the Second Consecutive Week

US oil and gas rig count steady at 589 for the week ending 20/Dec, as US oil drillers added one rig while US gas producers cut one rig. They added...

Mint Finance

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

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

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

[US Crude Oil Options Weekly 2024/51] WTI Futures Fall on Weak China Data and Fed Hawkishness

​WTI futures dropped 2.6% due to weak economic data, a strong dollar, and the Fed's hawkish rate cut outlook. Put/Call volume ratio decreased,...

Mint Finance

U.S. Rig Count Remains Unchanged for the Second Consecutive Week

​US oil and gas rig count steady at 589 for the week ending 20/Dec, as US oil drillers added one rig while US gas producers cut one rig. They added...

Mint Finance

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...

WTI futures dropped 2.6% due to weak economic data, a strong dollar, and the Fed's hawkish rate cut outlook. Put/Call volume ratio decreased,...

US oil and gas rig count steady at 589 for the week ending 20/Dec, as US oil drillers added one rig while US gas producers cut one rig. They added...