As oil is a commodity, the price of oil futures moves according to supply and demand. Within the industry, many
analytics companies forecast what oil production numbers will be to provide insight in which direction the price of
oil will move. The easiest way to do this is to monitor oil storage sites before the official production statistics are
released publicly. The largest oil storage site in the world is in Cushing, Oklahoma and the U.S. gov. releases these
statistics every Wednesday. Energy analytics companies try to forecast these Cushing numbers days before the
Wednesday data release by various means of aerial monitoring.
Oil storage monitoring, however, has many challenges. The oil industry is opaque and relies on a lot of
self-reporting. Analytics is expensive and thus many companies rely on solely one source of raw imagery data for
monitoring oil storage sites. Forecasting oil storage data runs into the challenges of being inaccurate, inaccessible
and incomplete. Our solution is to use multiple sources of aerial imagery (SAR satellite, drones, helicopters)
instead of only one or two in order to be faster, more accurate and more complete than any other company in the
field. Having better aerial imagery combined with a robust algorithm and the right human intelligence to separate
signal from noise has led to us being the industry leader in our product in a short amount of time.