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>US oil and gas rig count rose by eight to 590 for the week ending 13/Sep, the first increase in five weeks and the largest weekly gain in a year.</li>
<li>US oil rig count increased by five to 488 after staying flat for three straight weeks. Gas rigs rose by three to 97, marking its first increase in four weeks.</li>
<li>For the week ending 13/Sep, US energy producers added three rigs each in Louisiana, Oklahoma, and Wyoming. Conversely, they cut two rigs each in California and Pennsylvania.</li>
</ul>


US oil and gas rig count rose by eight to 590 for the week ending 13/Sep, the first increase in five weeks and the largest weekly gain in a year.
US oil rig count increased by five to 488 after staying flat for three straight weeks. Gas rigs rose by three to 97, marking its first increase in four weeks.
For the week ending 13/Sep, US energy producers added three rigs each in Louisiana, Oklahoma, and Wyoming. Conversely, they cut two rigs each in California and Pennsylvania.


US Rig Count Rises for First Time in Five Weeks as Oil and Gas Rigs Increase

<ul>
<li>OPEC cuts demand growth estimates for the second straight month, lowering its 2024 and 2025 forecasts by 3.8% and 2.2%, respectively, citing demand weakness in China.</li>
<li>Total production of OPEC members obliged to implement supply cuts averaged 21.48m bpd in August, exceeding the target by 1.6%.</li>
<li>EIA lowered its 2024 and 2025 oil price forecasts due to slower demand growth. However, it expects a quick recovery in prices driven by declining inventories.</li>
</ul>


OPEC cuts demand growth estimates for the second straight month, lowering its 2024 and 2025 forecasts by 3.8% and 2.2%, respectively, citing demand weakness in China.
Total production of OPEC members obliged to implement supply cuts averaged 21.48m bpd in August, exceeding the target by 1.6%.
EIA lowered its 2024 and 2025 oil price forecasts due to slower demand growth. However, it expects a quick recovery in prices driven by declining inventories.


OPEC and EIA Cut Oil Demand Forecasts; EIA Projects Nat-Gas Rise in 2025 on Strong LNG Exports

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>Welcome to our weekly EM Watch, where we examine Emerging Markets (with a particular focus on China) through the lens of Western investors.</li><li>It’s been a rough month for anything linked to China, including industrially sensitive commodities.</li><li>According to one of the most reliable live gauges of Chinese energy demand—the Singapore Gasoil-Dubai Crude Crack Swap—we are still on a slippery slope toward weaker demand from China.</li></ul>

Welcome to our weekly EM Watch, where we examine Emerging Markets (with a particular focus on China) through the lens of Western investors.It’s been a rough month for anything linked to China, including industrially sensitive commodities.According to one of the most reliable live gauges of Chinese energy demand—the Singapore Gasoil-Dubai Crude Crack Swap—we are still on a slippery slope toward weaker demand from China.

EM Watch: The Non-Feasible Return of the EM Carry Case Amidst a Global Slowdown

<ul>
<li>For the week ending 06/Sept, US crude inventories increased by 0.8m barrels, lower than the 0.9m barrel forecast. Gasoline stockpiles rose unexpectedly, while distillate inventories grew more than anticipated.</li>
<li>US natural gas inventories rise 40 Bcf for the week ending 06/Sep, lower than analyst expectations of a 49 Bcf buildup. Inventories are 9.6% above the 5-year seasonal average.</li>
<li>BP, Occidental Petroleum, and Exxon Mobil see target price cuts. Schlumberger announces breakthrough in Lithium production.</li>
</ul>


For the week ending 06/Sept, US crude inventories increased by 0.8m barrels, lower than the 0.9m barrel forecast. Gasoline stockpiles rose unexpectedly, while distillate inventories grew more than anticipated.
US natural gas inventories rise 40 Bcf for the week ending 06/Sep, lower than analyst expectations of a 49 Bcf buildup. Inventories are 9.6% above the 5-year seasonal average.
BP, Occidental Petroleum, and Exxon Mobil see target price cuts. Schlumberger announces breakthrough in Lithium production.


[ETP 2024/37] Oil Prices Rebound but Weak Demand Limits Gains, Nat-Gas Rises on Output Cuts

<ul>
<li>US natural gas prices rose 7% for the week ending 06/Sep, boosted by higher cooling demand, rising LNG exports, falling output, and moderate build-up in US natural gas storage.</li>
<li>Henry Hub Put/Call volume ratio fell to 1.06 (10/Sep) from 1.17 (04/Sep) as put volumes fell by 17.9% WoW, while call volumes declined by 9.6%.</li>
<li>Put OI increased for expiries on 25/Sep, Oct, and Nov. While call OI picked up for contracts expiring in Dec, Jan, Feb, and Mar. </li>
</ul>


US natural gas prices rose 7% for the week ending 06/Sep, boosted by higher cooling demand, rising LNG exports, falling output, and moderate build-up in US natural gas storage.
Henry Hub Put/Call volume ratio fell to 1.06 (10/Sep) from 1.17 (04/Sep) as put volumes fell by 17.9% WoW, while call volumes declined by 9.6%.
Put OI increased for expiries on 25/Sep, Oct, and Nov. While call OI picked up for contracts expiring in Dec, Jan, Feb, and Mar. 


[US Nat Gas Options Weekly 2024/36] Henry Hub Up on LNG Exports, Output Cut Offsets Hurricane Impact

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)

US Rig Count Rises for First Time in Five Weeks as Oil and Gas Rigs Increase

For the week ending 13/Sep, US rig count rose by 8 to 590, its largest weekly rise in a year. Oil rig count increased by 5 and the gas rig count...

Mint Finance

OPEC and EIA Cut Oil Demand Forecasts; EIA Projects Nat-Gas Rise in 2025 on Strong LNG Exports

OPEC cut oil demand estimates for the second month but forecasts a 2m bpd growth, above IEA & EIA projections. EIA expects a quick rebound in crude...

Mint Finance

EM Watch: The Non-Feasible Return of the EM Carry Case Amidst a Global Slowdown

Welcome to our weekly EM Watch, where we examine Emerging Markets (with a particular focus on China) through the lens of Western investors. It’s...

Steno Research

[ETP 2024/37] Oil Prices Rebound but Weak Demand Limits Gains, Nat-Gas Rises on Output Cuts

Oil prices rise on Hurricane impact but weak demand caps gains. Nat-gas prices rise on warmer weather forecasts and production cuts. BP,...

Mint Finance

[US Nat Gas Options Weekly 2024/36] Henry Hub Up on LNG Exports, Output Cut Offsets Hurricane Impact

Henry Hub Nat Gas prices increased 7% last week, driven by rising LNG exports and demand. The Put/Call volume ratio rebounded as put volumes rose...

Mint Finance

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