Despite the many events and developments in the oil world in 2019, the thing I think was the most influential = Satellites.
(Thread) #OOTT
(Thread) #OOTT
There are now numerous satellite data service providers and entirely new analytical insights built from them. From the tracking of ships, reading of inventories from space, to tracking oil rig deployments, and even pipeline construction.
While these services are not new per se in 2019 - I think they certainly came to the forefront this year. For example: the analytical community was able to see and examine the aftermath of the attacks in Saudi Arabia almost the next day from satellite imagery.
Satellite enabled analysis this year also allowed better tracking of shipping activity related to sanctions on Iran and Venezuela. (Think of all the news stories written about where stuff was going based on Satellite tracking this year)
Let's not forget one of the oldest uses of Satellites - weather. The terabytes worth of data gathered by weather satellites feed weather models that then predict where Hurricanes are going in the U.S. Gulf, or when and where a major snowstorm will hit = major energy implications.
We are finding new applications for the information collected by satellites that help fill in gaps and shed light on areas of oil/energy markets that were previously hidden.
So I nominate Satellites as the 2019 energy theme of the year. (Not that it's a thing, just putting it out there for conversation and contemplation)
