Research & Stock Picks

Company Reports

10 January 2025

By

Oil Weekly (3 – 9 January 2025): Avg. USD 76.6/bbl (+2.4% WoW)

Recent Catalysts Driving the Price

  • In the last 5 trading days, Brent prices rose +2.4% WoW (from USD 74.8/bbl), while WTI jumped +3.1% WoW (from USD 71.6/bbl). Prices peaked midweek, marking the first highs of 2025, before pulling back slightly.
  • In Dec 2024, OPEC crude production fell -120 mbpd to 27.1 mmbpd, and the UAE delayed its planned 300 mbpd production increase to April (from Jan), pushing OPEC+'s full restoration of 2.2 mmbpd to September 2026. Concurrently, Russian crude exports declined -190mbpd to 2.9 mmbpd as of January 5, while US crude imports from Canada reached record high of 689 mbpd, coinciding with concerns over the 25% tariff proposed by President-elect Donald Trump.
  • In FY24, average oil price reached USD 79.8/bbl (SSI: USD 80/bbl). For FY25, we set our forecast at USD 72/bbl (YTD: USD 76.9/bbl), down -10% YoY, as we anticipate sustained price pressure and potential supply increases from certain OPEC+ members. However, extended production cuts into 4Q24 and 2025 may provide some upside. MEDC remains our top pick with target price of IDR 2,200, reflecting FY25F valuation of 5.1x EV/EBITDA.

Share This:

pertumbuhan solid oil n gas

Download PDF

Download PDF

UPDATE_Oil_Weekly_20250110

Download PDF

UPDATE_Oil_Weekly_20250110

More Related

Economic Reports

Jan 15, 2025

Morning Briefs

Jan 14, 2025

Technical Stock Analysis

Jan 14, 2025

Economic Reports

Jan 13, 2025

Company Reports

Jan 13, 2025

Economic Reports

Jan 13, 2025

Morning Briefs

Jan 13, 2025

Technical Stock Analysis

Jan 13, 2025

Technical Stock Analysis

Jan 10, 2025

Morning Briefs

Jan 10, 2025

Economic Reports

Jan 10, 2025

Company Reports

Jan 9, 2025

Technical Stock Analysis

Jan 9, 2025

Economic Reports

Jan 8, 2025

Morning Briefs

Jan 8, 2025

Technical Stock Analysis

Jan 8, 2025

Economic Reports

Jan 7, 2025

Company Reports

Jan 7, 2025

Technical Stock Analysis

Jan 7, 2025

Morning Briefs

Jan 7, 2025

Economic Reports

Jan 7, 2025

Morning Briefs

Jan 6, 2025

Technical Stock Analysis

Jan 6, 2025

Morning Briefs

Jan 3, 2025

Technical Stock Analysis

Jan 3, 2025

Morning Briefs

Jan 2, 2025

Technical Stock Analysis

Jan 2, 2025

Morning Briefs

Dec 30, 2024

Morning Briefs

Dec 27, 2024

Technical Stock Analysis

Dec 27, 2024

Company Reports

Dec 24, 2024

laba bank bmri

Company Reports

Dec 24, 2024

laba bni

Company Reports

Dec 24, 2024

Morning Briefs

Dec 24, 2024

Technical Stock Analysis

Dec 24, 2024

Morning Briefs

Dec 23, 2024

Technical Stock Analysis

Dec 23, 2024

Economic Reports

Dec 22, 2024

peluang aces ditengah gejolak ekonomi

Company Reports

Dec 20, 2024

Company Reports

Dec 20, 2024

penurunan nikel

Company Reports

Dec 20, 2024

Technical Stock Analysis

Dec 20, 2024

Morning Briefs

Dec 20, 2024

Economic Reports

Dec 20, 2024

Economic Reports

Dec 19, 2024

Morning Briefs

Dec 19, 2024

Technical Stock Analysis

Dec 19, 2024

Economic Reports

Dec 19, 2024

Economic Reports

Dec 18, 2024

Morning Briefs

Dec 18, 2024

Technical Stock Analysis

Dec 18, 2024

Economic Reports

Dec 17, 2024

Technical Stock Analysis

Dec 17, 2024

Economic Reports

Dec 16, 2024

Economic Reports

Dec 16, 2024

Morning Briefs

Dec 16, 2024

Technical Stock Analysis

Dec 16, 2024

Morning Briefs

Dec 13, 2024

Technical Stock Analysis

Dec 13, 2024

Economic Reports

Dec 13, 2024

Technical Stock Analysis

Dec 12, 2024

Morning Briefs

Dec 12, 2024