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 21/Mar, U.S. crude inventories fell by 3.3m barrels (vs. expectations of 1.5m build), gasoline and distillate stockpiles fell less than expected.</li>
<li>US natural gas inventories rose by 37 Bcf for the week ending 21/Mar, in line with analyst expectations. Inventories are 6.5% below the 5-year seasonal average.</li>
<li>Shell to boost shareholder distributions to 40-50% of CFFO and cut costs by USD 5-7 billion by 2028. Exxon plans 250 layoffs in the UK by 2026.</li>
</ul>


For the week ending 21/Mar, U.S. crude inventories fell by 3.3m barrels (vs. expectations of 1.5m build), gasoline and distillate stockpiles fell less than expected.
US natural gas inventories rose by 37 Bcf for the week ending 21/Mar, in line with analyst expectations. Inventories are 6.5% below the 5-year seasonal average.
Shell to boost shareholder distributions to 40-50% of CFFO and cut costs by USD 5-7 billion by 2028. Exxon plans 250 layoffs in the UK by 2026.


[ETP 2025/13] WTI Climbs on Trade Disruptions, Moderate Weather Forecasts Cap Henry Hub

<ul>
<li>For the week ending 14/Mar, U.S. crude inventories rose 1.7m barrels (vs. expectations of 0.8m build), gasoline stockpiles fell below expectations, and distillate inventories declined more than anticipated.</li>
<li>US natural gas inventories rose by 9 Bcf for the week ending 14/Mar, more than analyst expectations of a 3 Bcf build. Inventories are 10% below the 5-year seasonal average.</li>
<li>Barclays cut Exxon's price target to USD 135 from USD 137 with an Overweight rating, while Citigroup lowered Occidental's target to USD 51 from USD 56 with a Neutral rating.</li>
</ul>


For the week ending 14/Mar, U.S. crude inventories rose 1.7m barrels (vs. expectations of 0.8m build), gasoline stockpiles fell below expectations, and distillate inventories declined more than anticipated.
US natural gas inventories rose by 9 Bcf for the week ending 14/Mar, more than analyst expectations of a 3 Bcf build. Inventories are 10% below the 5-year seasonal average.
Barclays cut Exxon's price target to USD 135 from USD 137 with an Overweight rating, while Citigroup lowered Occidental's target to USD 51 from USD 56 with a Neutral rating.


[ETP 2025/12] WTI Gains on Geopolitical Uncertainty, Henry Hub Falls on Rising Nat-Gas Stockpiles

<ul>
<li>For the week ending 07/Mar, US crude inventories increased by 1.4m barrels, missing expectations of a 2.1m barrel build. Meanwhile, gasoline and distillate stockpiles fell more than expected.</li>
<li>US natural gas inventories fell by 62 Bcf for the week ending 07/Mar, lower than analyst expectations of a 46 Bcf drawdown. Inventories are 11.9% below the 5-year seasonal average.</li>
<li>SNB Capital and United Securities cut Aramco's price targets. TotalEnergies CEO expects LNG prices to decline by decade’s end.</li>
</ul>


For the week ending 07/Mar, US crude inventories increased by 1.4m barrels, missing expectations of a 2.1m barrel build. Meanwhile, gasoline and distillate stockpiles fell more than expected.
US natural gas inventories fell by 62 Bcf for the week ending 07/Mar, lower than analyst expectations of a 46 Bcf drawdown. Inventories are 11.9% below the 5-year seasonal average.
SNB Capital and United Securities cut Aramco's price targets. TotalEnergies CEO expects LNG prices to decline by decade’s end.


[ETP 2025/11] Weak Demand and Trade Tensions Weigh on Crude, Volatile Weather Pressures Henry Hub

<ul>
<li>Norges Bank repurchased sizable stakes in BP, Chevron, Exxon, Halliburton, and SLB after fully exiting these positions in Q3, mirroring its Q2 buying spree.</li>
<li>Mediolanum International Funds sold its entire BP stake, Westwood Global Investments exited Shell, and Old Mission Capital divested from TotalEnergies.</li>
<li>BlackRock, State Street, and J.P. Morgan reduced their stakes in Chevron, while BNY Mellon and UBS Group increased their holdings.</li>
</ul>


Norges Bank repurchased sizable stakes in BP, Chevron, Exxon, Halliburton, and SLB after fully exiting these positions in Q3, mirroring its Q2 buying spree.
Mediolanum International Funds sold its entire BP stake, Westwood Global Investments exited Shell, and Old Mission Capital divested from TotalEnergies.
BlackRock, State Street, and J.P. Morgan reduced their stakes in Chevron, while BNY Mellon and UBS Group increased their holdings.


Investment Shifts in Oil & Gas Giants: Institutional Moves in Q4 2024

<ul>
<li>For the week ending 21/Feb, U.S. crude inventories dropped by 2.3m barrels, contradicting expectations of a 2.5m barrel build. Gasoline stockpiles unexpectedly rose, while distillate stocks surged more than expected.</li>
<li>U.S. natural gas inventories fell by 261 Bcf for the week ending 21/Feb, lower than analyst expectations of a 276 Bcf drawdown. Inventories are 11.5% below the 5-year seasonal average.</li>
<li>BP pivots back to fossil fuels, cutting renewables and reducing its quarterly buyback to USD 0.75 billion from USD 1.75 billion. President Trump revoked Chevron's license to operate in Venezuela.</li>
</ul>


For the week ending 21/Feb, U.S. crude inventories dropped by 2.3m barrels, contradicting expectations of a 2.5m barrel build. Gasoline stockpiles unexpectedly rose, while distillate stocks surged more than expected.
U.S. natural gas inventories fell by 261 Bcf for the week ending 21/Feb, lower than analyst expectations of a 276 Bcf drawdown. Inventories are 11.5% below the 5-year seasonal average.
BP pivots back to fossil fuels, cutting renewables and reducing its quarterly buyback to USD 0.75 billion from USD 1.75 billion. President Trump revoked Chevron's license to operate in Venezuela.


[ETP 2025/09] WTI Drops on Trade Tensions, Henry Hub Falls to Forecasts of Milder Temperatures

United States

Occidental Petroleum Corporation explores for, develops, produces, and markets crude oil and natural gas.  The Company also manufactures and markets a variety of basic chemicals, vinyls and performance chemicals. Occidental also gathers, treats, processes, transports, stores, trades and markets crude oil, natural gas, NGLs, condensate and carbon dioxide (CO2) and generates and markets power.

Price Gauge
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Occidental Petroleum (OXY US)

[ETP 2025/13] WTI Climbs on Trade Disruptions, Moderate Weather Forecasts Cap Henry Hub

US oil inventories fell more than expected, while natural gas inventories rose in line with expectations. Shell to increase shareholder...

Mint Finance

[ETP 2025/12] WTI Gains on Geopolitical Uncertainty, Henry Hub Falls on Rising Nat-Gas Stockpiles

US crude inventories rose more than expected, gasoline stockpiles fell short, and natural gas inventories exceeded analyst predictions. Barclays...

Mint Finance

[ETP 2025/11] Weak Demand and Trade Tensions Weigh on Crude, Volatile Weather Pressures Henry Hub

US crude inventories rise, missing expectations, while gasoline and distillate stockpiles fall. Aramco's price targets cut, TotalEnergies CEO...

Mint Finance

Investment Shifts in Oil & Gas Giants: Institutional Moves in Q4 2024

Norges Bank reacquires major oil stock stakes, while other funds and institutions make significant divestments and adjustments in their portfolios.

Mint Finance

[ETP 2025/09] WTI Drops on Trade Tensions, Henry Hub Falls to Forecasts of Milder Temperatures

US oil inventories drop, defying expectations. Natural gas inventories fall below analyst predictions. BP shifts focus back to fossil fuels, Trump...

Mint Finance

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[ETP 2025/13] WTI Climbs on Trade Disruptions, Moderate Weather Forecasts Cap Henry Hub

​US oil inventories fell more than expected, while natural gas inventories rose in line with expectations. Shell to increase shareholder...

Mint Finance

[ETP 2025/12] WTI Gains on Geopolitical Uncertainty, Henry Hub Falls on Rising Nat-Gas Stockpiles

​US crude inventories rose more than expected, gasoline stockpiles fell short, and natural gas inventories exceeded analyst predictions. Barclays...

Mint Finance

[ETP 2025/11] Weak Demand and Trade Tensions Weigh on Crude, Volatile Weather Pressures Henry Hub

​US crude inventories rise, missing expectations, while gasoline and distillate stockpiles fall. Aramco's price targets cut, TotalEnergies CEO...

Mint Finance

Investment Shifts in Oil & Gas Giants: Institutional Moves in Q4 2024

​Norges Bank reacquires major oil stock stakes, while other funds and institutions make significant divestments and adjustments in their portfolios.

Mint Finance

[ETP 2025/09] WTI Drops on Trade Tensions, Henry Hub Falls to Forecasts of Milder Temperatures

​US oil inventories drop, defying expectations. Natural gas inventories fall below analyst predictions. BP shifts focus back to fossil fuels, Trump...

Mint Finance

US oil inventories fell more than expected, while natural gas inventories rose in line with expectations. Shell to increase shareholder...

US crude inventories rose more than expected, gasoline stockpiles fell short, and natural gas inventories exceeded analyst predictions. Barclays...

US crude inventories rise, missing expectations, while gasoline and distillate stockpiles fall. Aramco's price targets cut, TotalEnergies CEO...

Norges Bank reacquires major oil stock stakes, while other funds and institutions make significant divestments and adjustments in their portfolios.

US oil inventories drop, defying expectations. Natural gas inventories fall below analyst predictions. BP shifts focus back to fossil fuels, Trump...