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 29/Nov, US crude inventories fell by 5.1m barrels, beating expectations of a 1.6m barrel decrease. However, gasoline and distillate stocks rose more than expected.</li>
<li>US natural gas inventories fell by 30 Bcf for the week ending 29/Nov. Inventories are 7.8% above the 5-year seasonal average.</li>
<li>UBS raised its 12-month price target on Chevron. Shell and Equinor plan to merge their UK offshore oil and gas assets to create a new company.</li>
</ul>


For the week ending 29/Nov, US crude inventories fell by 5.1m barrels, beating expectations of a 1.6m barrel decrease. However, gasoline and distillate stocks rose more than expected.
US natural gas inventories fell by 30 Bcf for the week ending 29/Nov. Inventories are 7.8% above the 5-year seasonal average.
UBS raised its 12-month price target on Chevron. Shell and Equinor plan to merge their UK offshore oil and gas assets to create a new company.


[ETP 2024/49] WTI Recovers on OPEC Extending Cuts; Henry Hub Drops on Volatile Weather Forecasts

Junior Finance Analyst, Steno Research

Ulrik Simmelholt

Junior Finance Analyst

Macro and Geopolitical Research House

Steno Research

Steno Research is a new macro and geopolitical research house. We are based out of Copenhagen, Denmark, but have an international team and a strong network of sources and partners around the world. The team is lead by Andreas Steno, previous global head of strategy at Nordea Bank, and Mikkel Rosenvold, former chief consultant in the Danish Ministry of Finance.

Macroeconomics

<ul><li>The OPEC+ meeting is finally taking place after the Kremlin managed to get Zoom working on Windows 7.</li><li>Early reports from delegates suggest that OPEC+ is solidifying a deal to delay a planned 3-month output hike.</li><li>Essentially, OPEC is postponing what could become a bloodbath in physical oil markets.</li></ul>

The OPEC+ meeting is finally taking place after the Kremlin managed to get Zoom working on Windows 7.Early reports from delegates suggest that OPEC+ is solidifying a deal to delay a planned 3-month output hike.Essentially, OPEC is postponing what could become a bloodbath in physical oil markets.

The Drill: China and Russia Are Intensifying the Commodity Battle?

Data-Driven Commodity Research, The Commodity Report

The Commodity Report

Data-Driven Commodity Research

A unique newsletter about commodities and macro analysis in a weekly format.

<ul><li>Goldman Thinks Commodities Will Outperform in 2025 Gold will rally to a record next year on central-bank buying and US interest rate cuts, according to Goldman Sachs - putting out a price target of $3.000 USD till end of 2025.</li><li>The bank sees a sideways market in crude as its base case.</li><li>The bank sees a sideways market in crude as its base case. “In our baseline forecast, we continue to see oil prices as range-bound, with Brent likely to stay in a $70-$85/bbl range. I</li></ul>

Goldman Thinks Commodities Will Outperform in 2025 Gold will rally to a record next year on central-bank buying and US interest rate cuts, according to Goldman Sachs - putting out a price target of $3.000 USD till end of 2025.The bank sees a sideways market in crude as its base case.The bank sees a sideways market in crude as its base case. “In our baseline forecast, we continue to see oil prices as range-bound, with Brent likely to stay in a $70-$85/bbl range. I

Goldman Thinks Commodities Will Outperform in 2025 // Bonds Into Year-End?

<ul>
<li>The US oil and gas rig count fell by 1 to 582 for the week ending on 27/Nov, reporting a third consecutive weekly fall.</li>
<li>For the week ending 22/Nov, US oil production rose to 13.49m bpd from 13.2m bpd the week prior. US output inched close to its all-time high of 13.5m bpd.</li>
<li>The number of active US oil rigs fell by two to 477, the lowest since July. Conversely, the US gas rig count rose by one to 100.</li>
</ul>


The US oil and gas rig count fell by 1 to 582 for the week ending on 27/Nov, reporting a third consecutive weekly fall.
For the week ending 22/Nov, US oil production rose to 13.49m bpd from 13.2m bpd the week prior. US output inched close to its all-time high of 13.5m bpd.
The number of active US oil rigs fell by two to 477, the lowest since July. Conversely, the US gas rig count rose by one to 100.


US Rig Count Falls for the Third Straight Week as Oil Rigs Decline

<ul>
<li>For the week ending 22/Nov, US crude inventories fell by 1.8m barrels, beating expectations of a 1.3m barrel decrease. However, gasoline and distillate stocks rose more than expected.</li>
<li>US natural gas inventories fell by 2 Bcf for the week ending 22/Nov, missing analyst expectations of a 4 Bcf decline. Inventories are 7.2% above the 5-year seasonal average.</li>
<li>Analysts raised their 12-month price targets on Chevron while trimming their targets for Exxon and Occidental. Both JP Morgan and Morgan Stanley reiterated their Overweight ratings on Reliance Industries.</li>
</ul>


For the week ending 22/Nov, US crude inventories fell by 1.8m barrels, beating expectations of a 1.3m barrel decrease. However, gasoline and distillate stocks rose more than expected.
US natural gas inventories fell by 2 Bcf for the week ending 22/Nov, missing analyst expectations of a 4 Bcf decline. Inventories are 7.2% above the 5-year seasonal average.
Analysts raised their 12-month price targets on Chevron while trimming their targets for Exxon and Occidental. Both JP Morgan and Morgan Stanley reiterated their Overweight ratings on Reliance Industries.


[ETP 2024/48] WTI Falls on Easing Middle East Tensions, Henry Hub Moderates on Ample Supply

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 2024/49] WTI Recovers on OPEC Extending Cuts; Henry Hub Drops on Volatile Weather Forecasts

US crude inventories fell more than expected, while gasoline and distillate stocks rose. Natural gas inventories also fell, UBS raised Chevron's...

Mint Finance

The Drill: China and Russia Are Intensifying the Commodity Battle?

The OPEC+ meeting is finally taking place after the Kremlin managed to get Zoom working on Windows 7. Early reports from delegates suggest that...

Steno Research

Goldman Thinks Commodities Will Outperform in 2025 // Bonds Into Year-End?

Goldman Thinks Commodities Will Outperform in 2025 Gold will rally to a record next year on central-bank buying and US interest rate cuts,...

The Commodity Report

US Rig Count Falls for the Third Straight Week as Oil Rigs Decline

US oil and gas rig count fell for the third week in a row, while US oil production neared an all-time high. Oil rigs fell by two to 477, the...

Mint Finance

[ETP 2024/48] WTI Falls on Easing Middle East Tensions, Henry Hub Moderates on Ample Supply

US crude stocks fell more than expected, but gasoline and distillate stocks rose. Natural gas inventories missed expectations. Analysts raised PTs...

Mint Finance

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[ETP 2024/49] WTI Recovers on OPEC Extending Cuts; Henry Hub Drops on Volatile Weather Forecasts

​US crude inventories fell more than expected, while gasoline and distillate stocks rose. Natural gas inventories also fell, UBS raised Chevron's...

Mint Finance

The Drill: China and Russia Are Intensifying the Commodity Battle?

The OPEC+ meeting is finally taking place after the Kremlin managed to get Zoom working on Windows 7. Early reports from delegates suggest that...

Steno Research

Goldman Thinks Commodities Will Outperform in 2025 // Bonds Into Year-End?

Goldman Thinks Commodities Will Outperform in 2025 Gold will rally to a record next year on central-bank buying and US interest rate cuts,...

The Commodity Report

US Rig Count Falls for the Third Straight Week as Oil Rigs Decline

​US oil and gas rig count fell for the third week in a row, while US oil production neared an all-time high. Oil rigs fell by two to 477, the...

Mint Finance

[ETP 2024/48] WTI Falls on Easing Middle East Tensions, Henry Hub Moderates on Ample Supply

​US crude stocks fell more than expected, but gasoline and distillate stocks rose. Natural gas inventories missed expectations. Analysts raised PTs...

Mint Finance

US crude inventories fell more than expected, while gasoline and distillate stocks rose. Natural gas inventories also fell, UBS raised Chevron's...

US oil and gas rig count fell for the third week in a row, while US oil production neared an all-time high. Oil rigs fell by two to 477, the...

US crude stocks fell more than expected, but gasoline and distillate stocks rose. Natural gas inventories missed expectations. Analysts raised PTs...