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 cuts demand growth estimates for the third consecutive month, lowering its 2024 and 2025 forecasts by 4.9% and 5.7%, respectively, citing demand weakness in China.</li>
<li>Total production of OPEC members obliged to implement supply cuts averaged 21.32m bpd in September, exceeding the target by 180k bpd.</li>
<li>The EIA reduced its 2024 and 2025 oil price forecasts due to September's sharp decline but expects prices to rise from current levels on declining oil inventories.</li>
</ul>


OPEC cuts demand growth estimates for the third consecutive month, lowering its 2024 and 2025 forecasts by 4.9% and 5.7%, respectively, citing demand weakness in China.
Total production of OPEC members obliged to implement supply cuts averaged 21.32m bpd in September, exceeding the target by 180k bpd.
The EIA reduced its 2024 and 2025 oil price forecasts due to September's sharp decline but expects prices to rise from current levels on declining oil inventories.


OPEC, EIA, and IEA Slash Demand Forecasts Again; EIA Sees US LNG Exports Boosting Henry Hub Prices

<ul>
<li>For the week ending 11/Oct, US crude inventories decreased by 2.2m barrels, diverging from expectations of a 1.8m barrel build. Additionally, gasoline and distillate stockpiles also declined more than anticipated.</li>
<li>US natural gas inventories rose 76 Bcf for the week ending 11/Oct, lower than analyst expectations of an 80 Bcf buildup. Inventories are 4.6% above the 5-year seasonal average.</li>
<li>Halliburton, Schlumberger, and Occidental’s target prices were cut. Notably, analysts kept their Buy ratings on Reliance despite its net profit falling by 4.8% YoY.</li>
</ul>


For the week ending 11/Oct, US crude inventories decreased by 2.2m barrels, diverging from expectations of a 1.8m barrel build. Additionally, gasoline and distillate stockpiles also declined more than anticipated.
US natural gas inventories rose 76 Bcf for the week ending 11/Oct, lower than analyst expectations of an 80 Bcf buildup. Inventories are 4.6% above the 5-year seasonal average.
Halliburton, Schlumberger, and Occidental’s target prices were cut. Notably, analysts kept their Buy ratings on Reliance despite its net profit falling by 4.8% YoY.


[ETP 2024/42] WTI Falls as Supply Disruption Fears Subside, Nat-Gas Slides on Weaker Demand Outlook

<ul>
<li>The US oil and gas rig count rose by one to 586 for the week ending 11/Oct, marking an increase after falling for three consecutive weeks.</li>
<li>The US oil rig count increased by two to 481. Meanwhile, gas rigs decreased by one to 101, after gaining six rigs over the last two weeks.</li>
<li>For the week ending 11/Oct, US energy producers added six rigs in Texas and one in Oklahoma but cut two each in Pennsylvania, Louisiana, and New Mexico.</li>
</ul>


The US oil and gas rig count rose by one to 586 for the week ending 11/Oct, marking an increase after falling for three consecutive weeks.
The US oil rig count increased by two to 481. Meanwhile, gas rigs decreased by one to 101, after gaining six rigs over the last two weeks.
For the week ending 11/Oct, US energy producers added six rigs in Texas and one in Oklahoma but cut two each in Pennsylvania, Louisiana, and New Mexico.


US Rig Count Rises After Falling for Three Consecutive Weeks

<ul>
<li>For the week ending 04/Oct, US crude inventories rose by 5.8m barrels, exceeding expectations of a 2m barrel build. However, gasoline and distillate stockpiles fell more than expected.</li>
<li>US natural gas inventories rose by 82 Bcf for the week ending 04/Oct, higher than analyst expectations of a 73 Bcf buildup. Inventories are 5.1% above the 5-year seasonal average.</li>
<li>Chevron and Shell experienced target price upgrades, while Schlumberger and Occidental’s target prices were cut. Notably, BNP Paribas downgraded Exxon to Underperform from Neutral.</li>
</ul>


For the week ending 04/Oct, US crude inventories rose by 5.8m barrels, exceeding expectations of a 2m barrel build. However, gasoline and distillate stockpiles fell more than expected.
US natural gas inventories rose by 82 Bcf for the week ending 04/Oct, higher than analyst expectations of a 73 Bcf buildup. Inventories are 5.1% above the 5-year seasonal average.
Chevron and Shell experienced target price upgrades, while Schlumberger and Occidental’s target prices were cut. Notably, BNP Paribas downgraded Exxon to Underperform from Neutral.


[ETP 2024/41] WTI Rises Amid Supply Disruption Fears; Nat-Gas Demand Wanes Due to Hurricane Milton

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>Disaster Averted - But Not Solved The European Commission has proposed to delay the Deforestation free products regulation (EU DR) by 12 months.</li><li>The law has been in place since May 2023, and was due to enter into effect on 30 December 2024.</li><li>EU DR requires that targeted commodities (cattle, cocoa, coffee, palm oil, rubber, soy, wood) and relevant products sold in the EU must not be produced on land that was deforested after 2020.</li></ul>

Disaster Averted - But Not Solved The European Commission has proposed to delay the Deforestation free products regulation (EU DR) by 12 months.The law has been in place since May 2023, and was due to enter into effect on 30 December 2024.EU DR requires that targeted commodities (cattle, cocoa, coffee, palm oil, rubber, soy, wood) and relevant products sold in the EU must not be produced on land that was deforested after 2020.

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.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Natural Gas (NATURAL GAS COMDTY)

OPEC, EIA, and IEA Slash Demand Forecasts Again; EIA Sees US LNG Exports Boosting Henry Hub Prices

OPEC and EIA cut demand growth estimates for 2024 and 2025, citing weakness in China, while EIA lowers oil price forecasts for the same years but...

Mint Finance

[ETP 2024/42] WTI Falls as Supply Disruption Fears Subside, Nat-Gas Slides on Weaker Demand Outlook

US oil inventories see a surprise fall, while US nat-gas stock rises less than expected. Chevron sees a target price upgrade while HSBC expects a...

Mint Finance

US Rig Count Rises After Falling for Three Consecutive Weeks

For the week ending 11/Oct, the US rig count grew by 1 to 586. Oil rigs increased by 2, while gas rigs fell by 1. US oil and gas producers added...

Mint Finance

[ETP 2024/41] WTI Rises Amid Supply Disruption Fears; Nat-Gas Demand Wanes Due to Hurricane Milton

WTI prices rise as supply concerns outweigh demand worries and larger-than-expected build in US crude inventories. US nat-gas inventories also...

Mint Finance

Disaster Averted - But Not Solved

Disaster Averted - But Not Solved The European Commission has proposed to delay the Deforestation free products regulation (EU DR) by 12 months.

The Commodity Report

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

OPEC, EIA, and IEA Slash Demand Forecasts Again; EIA Sees US LNG Exports Boosting Henry Hub Prices

​OPEC and EIA cut demand growth estimates for 2024 and 2025, citing weakness in China, while EIA lowers oil price forecasts for the same years but...

Mint Finance

[ETP 2024/42] WTI Falls as Supply Disruption Fears Subside, Nat-Gas Slides on Weaker Demand Outlook

​US oil inventories see a surprise fall, while US nat-gas stock rises less than expected. Chevron sees a target price upgrade while HSBC expects a...

Mint Finance

US Rig Count Rises After Falling for Three Consecutive Weeks

For the week ending 11/Oct, the US rig count grew by 1 to 586. Oil rigs increased by 2, while gas rigs fell by 1. US oil and gas producers added...

Mint Finance

[ETP 2024/41] WTI Rises Amid Supply Disruption Fears; Nat-Gas Demand Wanes Due to Hurricane Milton

​WTI prices rise as supply concerns outweigh demand worries and larger-than-expected build in US crude inventories. US nat-gas inventories also...

Mint Finance

Disaster Averted - But Not Solved

Disaster Averted - But Not Solved The European Commission has proposed to delay the Deforestation free products regulation (EU DR) by 12 months.

The Commodity Report

OPEC and EIA cut demand growth estimates for 2024 and 2025, citing weakness in China, while EIA lowers oil price forecasts for the same years but...

US oil inventories see a surprise fall, while US nat-gas stock rises less than expected. Chevron sees a target price upgrade while HSBC expects a...

WTI prices rise as supply concerns outweigh demand worries and larger-than-expected build in US crude inventories. US nat-gas inventories also...