Ursa to create weekly global oil inventory reports
Published by Anna Nicklin,
Assistant Editor
Hydrocarbon Engineering,
Ursa Space Systems Inc. (Ursa) has announced expansion to provide the first reliable, global oil inventory coverage. Building on its ‘Oil Storage Report’, Ursa will deliver global oil storage reports on a region-by-region basis, starting with the Caribbean, Middle East/North Africa and Europe, which are coming online in the coming months.
“Developed in close collaboration with our customers, the global product builds upon our success with Ursa’s China Oil Storage Report released in May,” said Matt Wood, Ursa’s VP of Sales and Marketing. “Our reliable and independent measurement of global oil stocks helps our customers build an accurate balance sheet for better insight on oil supply and demand; especially for areas of the world that are opaque.”
“Energy trading is continually revolutionised by the emergence of technologies that bring new sources of knowledge and efficiency,” says Colin Fenton of Blacklight Research. “As the promise of space-based remote sensing marched toward reality, we knew we had to find and partner with the best operation. We evaluated every company in this niche. Ursa is the clear winner. Our access to Ursa’s data has been a key edge for Blacklight in anticipating shifts in oil market fundamentals and prices so accurately in 2017.”
Ursa’s oil storage reports provide reliable weekly time series of oil stocks down to the tank level for a majority of the inventories on a regional basis. These measurements can be used as an anchor in calculating an “oil balance sheet” or as an input to models that predict prices of a wide range of commodities and other financial instruments. In addition to empirical measurements, Ursa provides contextual information such as tank owner and storage type.
Read the article online at: https://www.hydrocarbonengineering.com/product-news/18082017/ursa-to-create-weekly-global-oil-inventory-reports/
You might also like
Low US distillate consumption reflects slow economic activity and biofuel substitution
The EIA reports that US distillate consumption so far this year is lower than usual because of warm winter weather, reduced manufacturing activity, and continued substitution of biofuels in place of petroleum distillate on the US West Coast (PADD 5).