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>The US oil and gas rig count fell by 1 to 583 for the week ending on 22/Nov, reporting a second consecutive weekly fall.</li>
<li>For the week ending 15/Nov, US oil production fell to 13.2m bpd from 13.4m bpd. Output was at a record high of 13.5m bpd between 11/Oct through 01/Nov.</li>
<li>US energy producers added two rigs in Texas and one each in Wyoming and Oklahoma. They cut three rigs in Louisiana and one each in California and Colorado.</li>
</ul>


The US oil and gas rig count fell by 1 to 583 for the week ending on 22/Nov, reporting a second consecutive weekly fall.
For the week ending 15/Nov, US oil production fell to 13.2m bpd from 13.4m bpd. Output was at a record high of 13.5m bpd between 11/Oct through 01/Nov.
US energy producers added two rigs in Texas and one each in Wyoming and Oklahoma. They cut three rigs in Louisiana and one each in California and Colorado.


US Rig Count Falls for the Second Consecutive Week

Head of Research and Global Chief Strategist, Steno Research

Andreas Steno

Head of Research and Global Chief Strategist

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>Happy Friday! Every week, we dive deep into macro trends, analyze asset movements, and uncover the best value plays in the world of macro.</li><li>These insights are shared with hedge funds and institutional clients, and today, we’re bringing them directly to you.</li><li>While the macro landscape can be complex, we believe it doesn’t have to be intimidating.</li></ul>

Happy Friday! Every week, we dive deep into macro trends, analyze asset movements, and uncover the best value plays in the world of macro.These insights are shared with hedge funds and institutional clients, and today, we’re bringing them directly to you.While the macro landscape can be complex, we believe it doesn’t have to be intimidating.

Here’s What We Told Hedge Funds This Week – and How We’re Trading It!

<ul>
<li>For the week ending 15/Nov, US crude inventories rose by 0.5m barrels, exceeding expectations of a 0.4m barrel increase. Gasoline stocks exceeded estimates, while distillates declined less than expected.</li>
<li>US natural gas inventories fell by 3 Bcf for the week ending 15/Nov, contrasting analyst expectations of a 2 Bcf buildup. Inventories are 6.4% above the 5-year seasonal average.</li>
<li>TD Cowen raised its PT on Exxon, while Morgan Stanely lowered its PT on Halliburton. Aramco and Sinopec began the construction of a refining and petrochemical complex in China.</li>
</ul>


For the week ending 15/Nov, US crude inventories rose by 0.5m barrels, exceeding expectations of a 0.4m barrel increase. Gasoline stocks exceeded estimates, while distillates declined less than expected.
US natural gas inventories fell by 3 Bcf for the week ending 15/Nov, contrasting analyst expectations of a 2 Bcf buildup. Inventories are 6.4% above the 5-year seasonal average.
TD Cowen raised its PT on Exxon, while Morgan Stanely lowered its PT on Halliburton. Aramco and Sinopec began the construction of a refining and petrochemical complex in China.


[ETP 2024/47] WTI Rises on Ukraine-Russia Tensions; Henry Hub Jumps on Cold Weather Forecasts

<ul>
<li>US natural gas prices rose 5.77% for the week ending 15/Nov, buoyed by forecasts of cooler weather, rising US LNG exports, and declining production.</li>
<li>Henry Hub Put/Call volume ratio sharply rose to 1.08 from 0.65 (08/Nov) the previous week as put volumes rose by 53.5% WoW, while call volumes fell by 7.0%. </li>
<li>Call OI increased for December, January, February, and March expirations, while put OI was substantial for November, April, May, June, and July contracts.</li>
</ul>


US natural gas prices rose 5.77% for the week ending 15/Nov, buoyed by forecasts of cooler weather, rising US LNG exports, and declining production.
Henry Hub Put/Call volume ratio sharply rose to 1.08 from 0.65 (08/Nov) the previous week as put volumes rose by 53.5% WoW, while call volumes fell by 7.0%. 
Call OI increased for December, January, February, and March expirations, while put OI was substantial for November, April, May, June, and July contracts.


[US Nat Gas Options Weekly 2024/46] Henry Hub Prices Increased as Demand Outlook Improved

<ul>
<li>OPEC cut its 2024 demand growth forecast by 5.7%, marking the fourth consecutive monthly downgrade, while the EIA and IEA raised their forecasts by 7.6% and 7%, respectively.</li>
<li>Although the EIA and IEA raised 2024 demand projections, they lowered 2025 estimates. They anticipate an oversupplied oil market in 2025, with supply growth expected to outpace demand.</li>
<li>The EIA raised Q4 2024 oil price forecasts on geopolitical tensions and inventory withdrawals but cut post-Q2 2025 estimates due to expectations of rising inventories from higher output.</li>
</ul>


OPEC cut its 2024 demand growth forecast by 5.7%, marking the fourth consecutive monthly downgrade, while the EIA and IEA raised their forecasts by 7.6% and 7%, respectively.
Although the EIA and IEA raised 2024 demand projections, they lowered 2025 estimates. They anticipate an oversupplied oil market in 2025, with supply growth expected to outpace demand.
The EIA raised Q4 2024 oil price forecasts on geopolitical tensions and inventory withdrawals but cut post-Q2 2025 estimates due to expectations of rising inventories from higher output.


OPEC Cuts 2024 Oil Demand Forecast Again; EIA and IEA Warn of Oil Oversupply in 2025

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)

US Rig Count Falls for the Second Consecutive Week

US oil and gas rig count drops for second week in a row, with Texas seeing an increase in rigs while Louisiana and other states see cuts. Oil...

Mint Finance

Here’s What We Told Hedge Funds This Week – and How We’re Trading It!

Happy Friday!Every week, we dive deep into macro trends, analyze asset movements, and uncover the best value plays in the world of macro. These...

Steno Research

[ETP 2024/47] WTI Rises on Ukraine-Russia Tensions; Henry Hub Jumps on Cold Weather Forecasts

US crude and gasoline inventories increased more than expected. Exxon's PT increased while Halliburton's was lowered. Aramco and Sinopec started...

Mint Finance

[US Nat Gas Options Weekly 2024/46] Henry Hub Prices Increased as Demand Outlook Improved

US natural gas prices rose last week due to cooler weather forecasts, increased LNG exports, and declining production. Henry Hub Put/Call ratio...

Mint Finance

OPEC Cuts 2024 Oil Demand Forecast Again; EIA and IEA Warn of Oil Oversupply in 2025

OPEC cut its 2024 and 2025 demand growth forecast, while EIA and IEA raised projections for 2024 but lowered it for 2025. Supply is expected to...

Mint Finance

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

US Rig Count Falls for the Second Consecutive Week

​US oil and gas rig count drops for second week in a row, with Texas seeing an increase in rigs while Louisiana and other states see cuts. Oil...

Mint Finance

Here’s What We Told Hedge Funds This Week – and How We’re Trading It!

Happy Friday!Every week, we dive deep into macro trends, analyze asset movements, and uncover the best value plays in the world of macro. These...

Steno Research

[ETP 2024/47] WTI Rises on Ukraine-Russia Tensions; Henry Hub Jumps on Cold Weather Forecasts

​US crude and gasoline inventories increased more than expected. Exxon's PT increased while Halliburton's was lowered. Aramco and Sinopec started...

Mint Finance

[US Nat Gas Options Weekly 2024/46] Henry Hub Prices Increased as Demand Outlook Improved

​US natural gas prices rose last week due to cooler weather forecasts, increased LNG exports, and declining production. Henry Hub Put/Call ratio...

Mint Finance

OPEC Cuts 2024 Oil Demand Forecast Again; EIA and IEA Warn of Oil Oversupply in 2025

​OPEC cut its 2024 and 2025 demand growth forecast, while EIA and IEA raised projections for 2024 but lowered it for 2025. Supply is expected to...

Mint Finance

US oil and gas rig count drops for second week in a row, with Texas seeing an increase in rigs while Louisiana and other states see cuts. Oil...

US crude and gasoline inventories increased more than expected. Exxon's PT increased while Halliburton's was lowered. Aramco and Sinopec started...

US natural gas prices rose last week due to cooler weather forecasts, increased LNG exports, and declining production. Henry Hub Put/Call ratio...

OPEC cut its 2024 and 2025 demand growth forecast, while EIA and IEA raised projections for 2024 but lowered it for 2025. Supply is expected to...