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Shining A Light On China's

Crude Oil Consumption

New Satellite Storage Data Correlate With Import/Export Cargo Flows

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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).

satellite.pngFOR 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

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Port-Level Correlations

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).

search.pngFOR THE FIRST TIME, hard data delivers comprehensive - and granular - insight into China's imports, exports, internal demand and storage, both SPR & commercial

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