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 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

<ul>
<li>The US oil and gas rig count fell by 1 to 584 for the week ending on 15/Nov, after remaining steady for three weeks in a row.</li>
<li>For the week ending 08/Nov, US oil production inched down to 13.4m bpd after remaining at 13.5m bpd for four consecutive weeks.</li>
<li>US energy producers added two rigs in New Mexico and one in Pennsylvania while cutting two rigs in Texas and one each in Oklahoma and Utah.</li>
</ul>


The US oil and gas rig count fell by 1 to 584 for the week ending on 15/Nov, after remaining steady for three weeks in a row.
For the week ending 08/Nov, US oil production inched down to 13.4m bpd after remaining at 13.5m bpd for four consecutive weeks.
US energy producers added two rigs in New Mexico and one in Pennsylvania while cutting two rigs in Texas and one each in Oklahoma and Utah.


US Rig Count Falls After Remaining Steady for Three Consecutive Weeks

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>Latest CTA-Flow Forecast CTA positioning and UBS' flow model indicate slightly bullish momentum for some agriculture commodities as well as energy and on the flip side bearish momentum for precious metals and industrial metals.</li><li>Particularly we would like to highlight the expected bullish flows in cotton and bearish flows in the flesh markets, which align with some of our market setups.</li><li>“In currencies, the US dollar gained renewed momentum from Trump’s win, with the 1.7% rise in the DXY index on 6 November the largest one-day advance in two years.</li></ul>

Latest CTA-Flow Forecast CTA positioning and UBS' flow model indicate slightly bullish momentum for some agriculture commodities as well as energy and on the flip side bearish momentum for precious metals and industrial metals.Particularly we would like to highlight the expected bullish flows in cotton and bearish flows in the flesh markets, which align with some of our market setups.“In currencies, the US dollar gained renewed momentum from Trump’s win, with the 1.7% rise in the DXY index on 6 November the largest one-day advance in two years.

Hershey’s Warns About Cocoa Inflation // Latest CTA-Flow Forecast

<ul>
<li>For the week ending 08/Nov, US crude inventories rose by 2.1m barrels, surpassing expectations of a 0.4m barrel increase. Meanwhile, gasoline and distillate stocks unexpectedly declined.</li>
<li>US natural gas inventories rose 42 Bcf for the week ending 08/Nov, exceeding analyst expectations of a 34 Bcf buildup. Inventories are 6.1% above the 5-year seasonal average.</li>
<li>Occidental beat revenue and EPS estimates by 0.7% and 34.8%, respectively led by higher hydrocarbon output. Analysts upgraded their 12-month PTs on Occidental, Chevron, Exxon, and Halliburton.</li>
</ul>


For the week ending 08/Nov, US crude inventories rose by 2.1m barrels, surpassing expectations of a 0.4m barrel increase. Meanwhile, gasoline and distillate stocks unexpectedly declined.
US natural gas inventories rose 42 Bcf for the week ending 08/Nov, exceeding analyst expectations of a 34 Bcf buildup. Inventories are 6.1% above the 5-year seasonal average.
Occidental beat revenue and EPS estimates by 0.7% and 34.8%, respectively led by higher hydrocarbon output. Analysts upgraded their 12-month PTs on Occidental, Chevron, Exxon, and Halliburton.


[ETP 2024/46] WTI Drops on Strong Dollar, Henry Hub Gains on Lower Output and Better Demand Outlook

<ul><li>Trump Wins - Do Farmers Lose? Trump won another presidency.</li><li>In a landslide win, the Republicans secured even both houses - the White House and the Senate.</li><li>I won’t go in details about what that result means for my beloved Americans and whether it’s good or bad.</li></ul>

Trump Wins - Do Farmers Lose? Trump won another presidency.In a landslide win, the Republicans secured even both houses - the White House and the Senate.I won’t go in details about what that result means for my beloved Americans and whether it’s good or bad.

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)

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 Rig Count Falls After Remaining Steady for Three Consecutive Weeks

US oil and gas rig count drops slightly after remaining flat for straight weeks, US oil production slightly decreased but remains high.

Mint Finance

Hershey’s Warns About Cocoa Inflation // Latest CTA-Flow Forecast

Particularly we would like to highlight the expected bullish flows in cotton and bearish flows in the flesh markets, which align with some of our...

The Commodity Report

[ETP 2024/46] WTI Drops on Strong Dollar, Henry Hub Gains on Lower Output and Better Demand Outlook

US crude inventories rose more than expected, while gasoline and distillate stocks fell; nat-gas stocks also exceeded analyst expectations....

Mint Finance

Trump Wins - Do Farmers Lose?

Trump Wins - Do Farmers Lose? Trump won another presidency. In a landslide win, the Republicans secured even both houses - the White House and the...

The Commodity Report

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52-week Range

Market Cap (USDm)

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Dividend (Yield)

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 Rig Count Falls After Remaining Steady for Three Consecutive Weeks

​US oil and gas rig count drops slightly after remaining flat for straight weeks, US oil production slightly decreased but remains high.

Mint Finance

Hershey’s Warns About Cocoa Inflation // Latest CTA-Flow Forecast

Particularly we would like to highlight the expected bullish flows in cotton and bearish flows in the flesh markets, which align with some of our...

The Commodity Report

[ETP 2024/46] WTI Drops on Strong Dollar, Henry Hub Gains on Lower Output and Better Demand Outlook

​US crude inventories rose more than expected, while gasoline and distillate stocks fell; nat-gas stocks also exceeded analyst expectations....

Mint Finance

Trump Wins - Do Farmers Lose?

Trump Wins - Do Farmers Lose? Trump won another presidency. In a landslide win, the Republicans secured even both houses - the White House and the...

The Commodity Report

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...

US oil and gas rig count drops slightly after remaining flat for straight weeks, US oil production slightly decreased but remains high.

US crude inventories rose more than expected, while gasoline and distillate stocks fell; nat-gas stocks also exceeded analyst expectations....