Research & Stock Picks

Company Reports

07 October 2024

By

Oil Weekly (07 October 2024): USD 75.0/bbl (+2.4% WoW)

Recent Catalysts Driving the Price

  • In 30 Sep – 04 Oct 2024, Brent prices rose +2.4% WoW (from USD 73.2/bbl), while WTI prices increased +2.5% WoW (from USD 69.5/bbl). On 3 October, oil prices spiked caused by escalating geopolitical tensions in the Middle East.
  • The oil market is on an upward trajectory due to escalating concerns over Israel’s potential retaliation against Iran, which threatens critical shipping routes like the Strait of Hormuz. Any disruption to this vital passage, responsible for a significant share of global oil flow, could result in sharp price spikes. Furthermore, OPEC+ extended its 2.2 mmbopd cut until Dec-24 and the 1.66 mmbopd cut until the end of 2025.
  • We maintain our average oil forecast at USD 79/bbl (avg YTD: USD 81.3/bbl) due to sustained price pressure, though some upside persists from potential production cuts in 4Q24 and 2025. At this stage, we retain MEDC as our top pick, with target price of IDR 2,200, reflecting FY24F valuation of 4.9x EV/EBITDA.

Share This:

pasar minyak tertekan

Download PDF

Download PDF

UPDATE_Oil_Weekly_20241007

Download PDF

UPDATE_Oil_Weekly_20241007

More Related

Morning Briefs

Dec 15, 2025

Economic Reports

Dec 15, 2025

Morning Briefs

Dec 12, 2025

Economic Reports

Dec 12, 2025

Economic Reports

Dec 11, 2025

Morning Briefs

Dec 11, 2025

Economic Reports

Dec 11, 2025

Morning Briefs

Dec 10, 2025

Economic Reports

Dec 10, 2025

Company Reports

Dec 9, 2025

Economic Reports

Dec 9, 2025

Morning Briefs

Dec 8, 2025

Company Reports

Dec 5, 2025

Morning Briefs

Dec 5, 2025

Economic Reports

Dec 5, 2025

Morning Briefs

Dec 4, 2025

Economic Reports

Dec 4, 2025

Morning Briefs

Dec 3, 2025

Economic Reports

Dec 3, 2025

Company Reports

Dec 2, 2025

Economic Reports

Dec 2, 2025

Economic Reports

Dec 1, 2025

Economic Reports

Dec 1, 2025

Economic Reports

Dec 1, 2025

Morning Briefs

Dec 1, 2025

Economic Reports

Nov 30, 2025

Morning Briefs

Nov 28, 2025

Economic Reports

Nov 28, 2025

Morning Briefs

Nov 27, 2025

Economic Reports

Nov 27, 2025

Morning Briefs

Nov 26, 2025

Economic Reports

Nov 26, 2025

Economic Reports

Nov 25, 2025

Morning Briefs

Nov 24, 2025

Economic Reports

Nov 24, 2025

Morning Briefs

Nov 21, 2025

Economic Reports

Nov 21, 2025

Economic Reports

Nov 20, 2025

Economic Reports

Nov 20, 2025

Morning Briefs

Nov 20, 2025

Economic Reports

Nov 20, 2025

Morning Briefs

Nov 19, 2025

Economic Reports

Nov 19, 2025

Company Reports

Nov 18, 2025

Economic Reports

Nov 18, 2025

Morning Briefs

Nov 17, 2025

Economic Reports

Nov 16, 2025

Morning Briefs

Nov 14, 2025

Company Reports

Nov 13, 2025

Economic Reports

Nov 13, 2025

Morning Briefs

Nov 13, 2025

Economic Reports

Nov 12, 2025

Morning Briefs

Nov 12, 2025

Economic Reports

Nov 11, 2025

Economic Reports

Nov 10, 2025

Morning Briefs

Nov 10, 2025

Morning Briefs

Nov 7, 2025

Economic Reports

Nov 6, 2025

Morning Briefs

Nov 6, 2025

Economic Reports

Nov 5, 2025

Economic Reports

Nov 5, 2025

Morning Briefs

Nov 5, 2025

laba bumi

Company Reports

Nov 5, 2025

Economic Reports

Nov 4, 2025

Economic Reports

Nov 3, 2025

Economic Reports

Nov 3, 2025

Economic Reports

Nov 3, 2025

Economic Reports

Nov 3, 2025

Morning Briefs

Nov 3, 2025

Company Reports

Oct 31, 2025

Morning Briefs

Oct 31, 2025