Here’s a round-up of articles mentioning Ursa this week in case you missed them.
Bloomberg cited Ursa in two articles available to Terminal subscribers.
“Mexico Oil Loadings at Highest in Nearly a Year Amid Supply Cuts” (Feb 15) by Amy Stillman and Michelle Kim quoted Ursa inventory measurements.
The story discussed how US sanctions against Venezuela have led to increased Mexican exports, mostly of Maya, a heavy crude.
Exports from the Dos Bocas port jumped during the month, likely causing crude inventories to go down. Stockpiles in the state of Paraiso fell 15 percent during the past four weeks, according to intelligence provider Ursa.
This is a topic we’ve also covered on this blog, which you can read here.
Another Bloomberg article by Michelle Kim, “Venezuela Oil Stockpiles Are Shrinking Despite Sanctions: Ursa,” (Feb 15) highlighted the surprising fact that builds there haven’t yet materialized.
Crude stockpiles at Venezuelan ports have declined by 3.5 percent over the last two weeks, despite U.S. sanctions on the nation’s exports, according to satellite data analytics firm Ursa.
“The early signs are that they’ve coped fairly well, given the draws,” said Geoffrey Craig, an energy analyst at Ursa.
Here was our early take on the impact of Venezuela sanctions.
An article (Feb 21) by Platts, “Analysis: China’s independents may slow crude imports as stocks rise, margins fall,” said refinery demand will likely decline in March and April.
Reporters Daisy Xu and Oceana Zhou cited Ursa data covering Shandong province where China’s independent refiners are mostly located.
Crude oil stocks in Shandong province had been growing since November, with volumes hitting 129.47 million barrels in mid-February, up 15.5% from the end of November, satellite data from Ursa showed.