New Satellite Storage Data Correlate With Import/Export Cargo Flows
Total Waterborne Imports (mn bbls) vs Total Storage Change (mn bbls)
PROPRIETARY SOURCE: Satellite & Cargo Tracking Data: The correlation between total waterborne imports and total stock change is 0.4 on a 5-week lag (A rise in imports leads to an increase in overall storage levels 5 weeks later).FOR THE FIRST TIME, near-Earth orbiting satellite imaging of Chinese crude oil storage tanks correlates exceptionally well with the industry's best import/export vessel-and-cargo data
PROPRIETARY SOURCE: Satellite & Cargo Tracking Data: Imports into Caofeidian have a 0.52 correlation with storage changes (both in thousand bbls) on a 1-week lag (imports lead).
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