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 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

Global Editor, Base Oil News

Iain Pocock

Global Editor

Global Base Oils and Lubricants Markets

Base Oil News

Base Oil News focuses on the interplay between fundamentals and prices in the global base oils and lubricants markets.

Baseoilnews.com combines daily, weekly and monthly base oils and lubes fundamentals data from every region of the world to build the most comprehensive and up-to-date global picture of the state of the market.

The data and analysis provide key tools to understand current market developments and opportunities and to anticipate how the market is likely to behave in the coming months.

Base oils producers, lube blenders and consumers can then better plan accordingly.

Baseoilnews.com analyses and publishes market news and data every day as it breaks.

<ul><li>US export base oils price premium to feedstock/heating oil prices holds in narrow range even as outright prices fall.</li><li>Lower export prices could reflect concern about availability of lingering or additional supplies if domestic demand lags expectations.</li><li>Lower export prices follow unusually steady outright prices and steadier differentials vs VGO in first two months of 2025.</li></ul>

US export base oils price premium to feedstock/heating oil prices holds in narrow range even as outright prices fall.Lower export prices could reflect concern about availability of lingering or additional supplies if domestic demand lags expectations.Lower export prices follow unusually steady outright prices and steadier differentials vs VGO in first two months of 2025.

Americas/EMEA base oils supply outlook: Week of 10 March

<ul><li>US base oils demand typically gets seasonal boost from around this time of the year.</li><li>Any such pick-up in demand in coming weeks could get further support following signs that sustained dip in domestic consumption is bottoming out.</li><li>Domestic demand in Q4 2024 rises from year-earlier levels for first time in two years, falls less than usual from previous quarter.</li></ul>

US base oils demand typically gets seasonal boost from around this time of the year.Any such pick-up in demand in coming weeks could get further support following signs that sustained dip in domestic consumption is bottoming out.Domestic demand in Q4 2024 rises from year-earlier levels for first time in two years, falls less than usual from previous quarter.

Americas/EMEA base oils demand outlook: Week of 10 March

<ul><li>Europe’s Group II base oils prices hold in narrow range vs Group I prices in first two months of 2025.</li><li>Europe Group II prices flip to premium to Europe Group III 4cSt (low) prices in Feb 2025 for first time since mid-2021.</li><li>Relative price-strength of Group II base oils points to firm supply-demand fundamentals vs Group I and Group III base oils.</li></ul>

Europe’s Group II base oils prices hold in narrow range vs Group I prices in first two months of 2025.Europe Group II prices flip to premium to Europe Group III 4cSt (low) prices in Feb 2025 for first time since mid-2021.Relative price-strength of Group II base oils points to firm supply-demand fundamentals vs Group I and Group III base oils.

Global base oils arb outlook: Week of 10 March

France

TotalEnergies SE operates as an energy company. The Company produces, transports, and supplies crude oil, natural gas, and low carbon electricity, as well as refines petrochemical products. TotalEnergies owns and manages gasoline filling stations worldwide.

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TotalEnergies (TTE US)

[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

Americas/EMEA base oils supply outlook: Week of 10 March

US export base oils price premium to feedstock/heating oil prices holds in narrow range even as outright prices fall. Lower export prices could...

Base Oil News

Americas/EMEA base oils demand outlook: Week of 10 March

US base oils demand typically gets seasonal boost from around this time of the year. Any such pick-up in demand in coming weeks could get further...

Base Oil News

Global base oils arb outlook: Week of 10 March

Europe’s Group II base oils prices hold in narrow range vs Group I prices in first two months of 2025. Europe Group II prices flip to premium to...

Base Oil News

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[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

Americas/EMEA base oils supply outlook: Week of 10 March

US export base oils price premium to feedstock/heating oil prices holds in narrow range even as outright prices fall. Lower export prices could...

Base Oil News

Americas/EMEA base oils demand outlook: Week of 10 March

US base oils demand typically gets seasonal boost from around this time of the year. Any such pick-up in demand in coming weeks could get further...

Base Oil News

Global base oils arb outlook: Week of 10 March

Europe’s Group II base oils prices hold in narrow range vs Group I prices in first two months of 2025. Europe Group II prices flip to premium to...

Base Oil News

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.