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New OPEC Insights: Ursa Extends In-Depth Oil Inventory Monitoring to MENA Region

Photograph courtesy of Glenn Beltz, Flickr Creative Commons.

Ursa Space Systems Inc. has announced the worldwide release of their Middle East/North Africa (MENA) Oil Storage Report. MENA is the third region in Ursa’s expansion to global coverage of oil storage inventories, providing a new reliable data-set to a product line that is already in use by leading traders.

“MENA is a key region in global crude prices due to the role of OPEC in determining production for its members, many of whom are in this region,” said Matt Wood, Ursa’s Vice President of Sales and Marketing. “Our customers rely on our detailed information, regular cadence, and weekly refresh of every site to make important business decisions.”

Zack Downey, Data Scientist at Ursa, agrees, “MENA Oil Storage provides unique insight into production and inventory levels of OPEC, providing subscribers with an early understanding of production cut compliance and global re-balancing (or lack thereof) of supply and demand.” Eight of the 14 OPEC countries are covered in Ursa’s MENA offering.

“We are excited about reaching this milestone towards reliable global coverage. This is Ursa’s largest regional expansion to date, covering the most sites and countries”, said Adam Maher, Ursa’s CEO. “Adding this third region brings our total coverage to over 50 locations and more than 1.5 billion barrels of shell capacity. We plan to complete our global coverage expansion in the next several months.”

Ursa’s MENA report covers over 1,400 tanks across 24 sites, representing more than 570 Mbbls of shell capacity monitored on a weekly basis. In addition, Ursa provides contextual information such as tank owner and whether each tank is associated with a refinery, which enables subscribers to filter the data for deeper insights.

Ursa delivers global economic intelligence to energy and financial enterprises, providing reliable information about areas of the world that are traditionally opaque. The company was formed in early 2015 by leaders in the satellite and software security fields with the vision to unlock the potential of data and insights derived from satellite imaging. Ursa is headquartered in Ithaca, New York.

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