Oil Storage Product Undergoes Big Expansion

AUTHOR

We wanted to reintroduce Ursa Space’s Global Oil Storage Product (OSP) following a major expansion of our coverage.

With a dose of humility, we can proudly say we offer the most comprehensive view of onshore crude oil inventories in the market. No one else covers more tanks or barrels than we do.

How do we do it? 

We collect radar satellite imagery of floating-top storage tanks and apply proprietary algorithms to measure volumes. This is the only method we use. We do not estimate inventories based on crude oil flows.

You can read more about our techniques and the specific sensor utilized called synthetic aperture radar (SAR).

Why is this important?

The state of the global economy is highly uncertain. While demand has rebounded since last year, a sustained recovery isn’t a foregone conclusion.

Supply chain disruptions, the Delta variant, inflation….the list of factors that could derail economic growth is a long one.

Fundamental data, like global oil inventories, helps make sense of economic conditions. We’ve analyzed some of the signals cast by our data in previous articles this year:

It’s never been more important therefore to have a truly comprehensive dataset covering oil inventories in every corner of the world.

With the OSP expansion complete, our coverage now comprises oil inventories in 122 countries from Albania to Zimbabwe.

Our accuracy is demonstrated by the following graph of Cushing, Oklahoma crude oil inventories since 2020. This comparison shows a very strong correlation (0.99) between Ursa Space and the US Energy Information Administration (EIA).

We publish our Cushing inventory data every Monday at 9:30 (US Eastern), which is two days before EIA’s US oil storage report. We deliver a weekly OSP report every Thursday via email. Customers can also access our API for a near, real-time data feed.

You can download sample OSP data from AWS Marketplace. Our current listings also include data on Global Auto Manufacturing and Port Monitoring.

Major news organizations cite our data and views on a regular basis, including:




Interested? Let us know if you’d like to learn more. We’d love to chat with you, simply email us!

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