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Tanker market: new tool provides onshore oil inventories ahead of official figures
Vortexa has added onshore crude oil data to its analytics to create a comprehensive picture of near real-time crude oil availability, beating the official data to market
Adding global onshore crude oil stocks to Vortexa’s already comprehensive data on tanker movements analytics takes crude oil availability to a new level, according to Vortexa.
Vortexa’s Onshore Crude Inventories data allows traders and analysts to track where stocks are currently rising or falling, inferring the clearest understanding of the latest global crude and supply balances.
Aggregation analytics by time, location and tank-type also help to strengthen trading decisions and help allocate resources most effectively and profitably.
With this additional data, Vortexa believes its advanced analytics provide the most complete coverage of onshore crude inventories, spanning 20,000 tanks and over 5.5Bn bbl capacity across 112 countries, validated by inhouse industry experts.
Cushing inventory data is supplemented by weekly aerial infra-red observations to provide a very tight correlation with the United States Department of Energy (DOE) weekly statistics.
These measures are available two days before the official EIA storage numbers are released which gives traders an advantage to position themselves well in advance of the DOE figures.
The tool includes access the latest and historical (up to 2016) storage volumes and tank utilisation for all geographic regions down to storage facility level.
The new Vortexa facility allows traders and operators to filter storage volumes and tank utilisation by crude confidence level, location, facility owner and storage type (refinery, commercial and strategic petroleum reserve).
Vortexa chief executive Fabio Kuhn said, ‘’We are excited to bring the highest level of transparency in global onshore crude inventories available today. It is now possible to combine Vortexa’s leading data and analytics in floating storage with onshore inventories to provide the most complete and timely view on the balancing of global supply and demand of crude in the market.’’
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