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 03/Jan, U.S. crude inventories fell by 1m barrels, missing expectations of a 1.8m barrel decrease. Gasoline and distillate stockpiles rose more than expected.</li>
<li>U.S. natural gas inventories fell by 40 Bcf for the week ending 03/Jan, moderately beating analyst expectations of a 39 Bcf drawdown. Inventories are 6.5% above the 5-year seasonal average.</li>
<li>Analysts lowered 12-month PTs on Exxon, BP, Halliburton, TotalEnergies, and SLB. Morgan Stanley upgraded rating on Shell to Overweight and raised PT to USD 79.8 from USD 66.5.</li>
</ul>


For the week ending 03/Jan, U.S. crude inventories fell by 1m barrels, missing expectations of a 1.8m barrel decrease. Gasoline and distillate stockpiles rose more than expected.
U.S. natural gas inventories fell by 40 Bcf for the week ending 03/Jan, moderately beating analyst expectations of a 39 Bcf drawdown. Inventories are 6.5% above the 5-year seasonal average.
Analysts lowered 12-month PTs on Exxon, BP, Halliburton, TotalEnergies, and SLB. Morgan Stanley upgraded rating on Shell to Overweight and raised PT to USD 79.8 from USD 66.5.


[ETP 2025/02] Bearish EIA Inventory Report Drags WTI Prices, Henry Hub Rebounds on Tightening Supply

<ul>
<li>The U.S. oil and gas rig count remained unchanged for the fourth straight week at 589 for the week ending on 03/Jan.</li>
<li>For the week ending 27/Dec, U.S. oil production moderately fell to 13.57m bpd from 13.59m bpd the week prior.</li>
<li>The U.S. oil rig count declined by one to 482, while active gas rigs increased by one to 103. Producers added one rig in Texas and cut one in Louisiana.</li>
</ul>


The U.S. oil and gas rig count remained unchanged for the fourth straight week at 589 for the week ending on 03/Jan.
For the week ending 27/Dec, U.S. oil production moderately fell to 13.57m bpd from 13.59m bpd the week prior.
The U.S. oil rig count declined by one to 482, while active gas rigs increased by one to 103. Producers added one rig in Texas and cut one in Louisiana.


U.S. Rig Count Steady for the Fourth Consecutive Week

<ul>
<li>For the week ending 27/Dec, U.S. crude inventories fell by 1.2m barrels, missing expectations of a 2.4m barrel decrease. Gasoline and distillate stockpiles rose more than expected.</li>
<li>U.S. natural gas inventories fell by 116 Bcf for the week ending 27/Dec, missing analyst expectations of a 127 Bcf drawdown. Inventories are 4.7% above the 5-year seasonal average.</li>
<li>JP Morgan lowered its 12-month PT for Halliburton and Schlumberger but maintained its “Overweight” ratings. Saudi Aramco revised fuel and natural gas prices for cement production starting from 01/Jan.</li>
</ul>


For the week ending 27/Dec, U.S. crude inventories fell by 1.2m barrels, missing expectations of a 2.4m barrel decrease. Gasoline and distillate stockpiles rose more than expected.
U.S. natural gas inventories fell by 116 Bcf for the week ending 27/Dec, missing analyst expectations of a 127 Bcf drawdown. Inventories are 4.7% above the 5-year seasonal average.
JP Morgan lowered its 12-month PT for Halliburton and Schlumberger but maintained its “Overweight” ratings. Saudi Aramco revised fuel and natural gas prices for cement production starting from 01/Jan.


[ETP 2025/01] WTI Rises on Improved Chinese Outlook, Henry Hub Reverses Uptrend

<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

Natural gas is a naturally occurring hydrocarbon gas mixture consisting primarily of methane, but commonly including varying amounts of other higher alkanes, and sometimes a small percentage of carbon dioxide, nitrogen, hydrogen sulfide, or helium. It is formed when layers of decomposing plant and animal matter are exposed to intense heat and pressure supplied by existing under the surface of the Earth over millions of years. The energy that the plants originally obtained from the sun is stored in the form of chemical bonds in the gas.

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Natural Gas (NATURAL GAS COMDTY)

[ETP 2025/02] Bearish EIA Inventory Report Drags WTI Prices, Henry Hub Rebounds on Tightening Supply

US crude inventories fell less than expected, while gasoline and distillate stockpiles rose; nat-gas withdrawal beat expectations. Analysts...

Mint Finance

U.S. Rig Count Steady for the Fourth Consecutive Week

US oil and gas rig count holds steady, with slight decrease in oil production and shifts in rig activity between states.

Mint Finance

[ETP 2025/01] WTI Rises on Improved Chinese Outlook, Henry Hub Reverses Uptrend

US crude inventories fell less than expected, while gasoline and distillate stockpiles rose. Natural gas inventories also fell below expectations....

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

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[ETP 2025/02] Bearish EIA Inventory Report Drags WTI Prices, Henry Hub Rebounds on Tightening Supply

​US crude inventories fell less than expected, while gasoline and distillate stockpiles rose; nat-gas withdrawal beat expectations. Analysts...

Mint Finance

U.S. Rig Count Steady for the Fourth Consecutive Week

​US oil and gas rig count holds steady, with slight decrease in oil production and shifts in rig activity between states.

Mint Finance

[ETP 2025/01] WTI Rises on Improved Chinese Outlook, Henry Hub Reverses Uptrend

​US crude inventories fell less than expected, while gasoline and distillate stockpiles rose. Natural gas inventories also fell below expectations....

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 inventories fell less than expected, while gasoline and distillate stockpiles rose; nat-gas withdrawal beat expectations. Analysts...

US oil and gas rig count holds steady, with slight decrease in oil production and shifts in rig activity between states.

US crude inventories fell less than expected, while gasoline and distillate stockpiles rose. Natural gas inventories also fell below expectations....

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...