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Company Reports

14 February 2025

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Oil Weekly (07 – 13 February 2025): Avg. USD 75.5/bbl (-0.02% WoW)

Recent Catalysts Driving the Price

  • In the last five trading days, Brent prices remained flattish (USD 75.5/bbl, -0.02% WoW), while WTI slipped -0.2% WoW to USD 71.7/bbl. Prices initially spiked on Tuesday amid geopolitical tensions following newly imposed EU sanctions against Russia but later retreated due to expectations of Russia-Ukraine peace talks.
  • On Thursday, oil prices fell after Trump signalled potential peace deal between Ukraine and Russia, raising speculation that sanctions could be lifted, easing supply disruptions. Additionally, US commercial crude inventories increased to 427.9 Mbbl (+1.0% WoW), further weighing on prices.
  • Given persistent bearish sentiment from rising inventories and potential easing of geopolitical risks, we maintain our price forecast at USD 72/bbl (YTD: USD 77.5/bbl), as price pressure is expected to persist amid potential supply increases from the US and OPEC+. Stock-wise, MEDC remains our top pick (TP: IDR 2,200; FY25F EV/EBITDA: 5.1x), supported by alternative valuations and strong cash flow.

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