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Highly accurate Cushing storage measurements delivered two days before EIA estimates

Gain exceptional transparency into market fundamentals with advance notice storage data for the industry’s most-watched hub

Genscape’s bi-weekly measurements of the oil storage tanks at Cushing, Oklahoma are the industry standard for the most important crude oil trading hub in the world. That’s because, unlike the Energy Information Administration’s (EIA) data derived from voluntary reporting or accounting flows, Genscape storage measurements are based on actual tank volumes and include granularity down to the individual tank level.

Data is collected using infrared cameras, aerial diagnostics, and other proprietary measurement techniques. This approach translates into highly accurate, advance notice of the actual oil storage levels at Cushing. Immediately following the publication of the Genscape’s Cushing oil storage numbers on Mondays and Thursdays at 10:00 AM (US Eastern time), futures and over-the-counter trading activity surges as market participants adjust their positions. In addition to offering insight into the industry’s most-watched hub two days ahead of the EIA, Genscape provides much more granular information to assess oil storage by owner or purpose.

Cushing is not the only location that influences the crude oil balance in the U.S. Mid-Continent. Genscape also measures tank levels in Canada, at Patoka in Illinois, at St. James in Louisiana, and at four separate locations in West Texas, including the critical Midland hub. The Canadian storage is particularly interesting to traders since tank levels at Hardisty in Alberta provide a good leading indicator of what to expect at Cushing three weeks later.

The first graph below shows Genscape's measured Cushing storage level data accuracy, published bi-weekly, compared to the EIA monthly storage level report. With our service, there's no need to wait until the end of the month for the EIA's report when Genscape's data is spot on and available twice a week. The bottom graph compares Genscape's Monday storage data to the qualitative estimates published by the EIA two days later. Click each graph for an enlargement.

Genscape Cushing Storage Data vs. EIA Estimates

Cushing Change Comparison (4 week rolling)

PRODUCT OVERVIEW

Delivery: Emailed PDF reports, access to Genscape's Oil Intelligence dashboard, and historical Excel datasets

Frequency: Twice weekly

Locations: North America

Subscribe: Call 866 292 8060

Free trial cushing storage report

Complex oil economics & factors influencing production growth

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The Cushing Storage service includes:

  • Storage report PDF emailed at 10am ET on Mondays and Thursdays
    • Storage levels by owner with week-over-week changes and capacity utilization
    • Aggregate storage totals
  • Access to data via a web-based dashboard, CSV files, and Genscape’s historical data access tool (GDAT)
  • Intelligence reports delivered as-needed with maintenance updates and alerts 
  • Access to Genscape’s online dashboard for granular, tank-level measurements and historical data available for csv export
Infrared cameras capture storage levels at Cushing
Genscape uses data from highly calibrated infrared cameras, aerial diagnostics and other proprietary technologies to capture oil storage levels tank-by-tank

 

Download free white paper

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Benefits of the Cushing Storage Report:

  • Gain insight two days ahead of the competition when you have highly accurate, advance notice storage data for the industry’s most-watched hub
  • Improve in-house models with historical and granular data for each tank and tank owner
Gain early insight into physical Cushing storage & logistics

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Data collection methodology

Genscape flies over the Cushing storage facility twice a week, once to coincide with the Cushing storage report by the EIA, and a second time, on Tuesdays, to provide an interim mid-week look at storage. Additional flights are made at the end of each month to coincide with the monthly EIA number.

  1. The elevation of the roof in floating roof tanks is measured using pictures in the visual spectrum
  2. Genscape utilizes images in the infra-red spectrum to detect storage levels in fixed roof tanks and to verify the readings from measurements in the visual spectrum of floating roof tanks

How Genscape collects tank level information

Genscape analyzes government records such as permits, maps, aerial and satellite imagery, land deeds, company filings, and many other sources to create its tank level database for each monitored terminal. Ground research supplements this information.

Genscape mid-week storage level report has a 0.99 correlation to the weekly measured storage level reportGenscape mid-week storage level report has a 0.99 correlation to the weekly measured storage level report
Genscape's mid-week storage level report gives clients early insight into what the weekly storage change at Cushing is likely to be and has a 0.99 correlation to the weekly measured storage level report

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