Louisville, KY, Aug. 13, 2019 (GLOBE NEWSWIRE) -- As Philadelphia Energy Solutions (PES) prepares to close the 335,000 barrel per day (bpd) oil refinery in Philadelphia following a disastrous June 21 explosion, and the market prepares for the implementation of multiple green initiatives intended to reduce carbon emissions, the oil industry has been paying close attention to refinery operations. Recently, Genscape, the leading global provider of real-time data and intelligence for commodity and energy markets, launched the Refinery Stream Monitor (RSM), the first-ever source for weekly crude and downstream refinery intelligence in the U.S.
The new service provides detailed insights about refinery operations faster than ever before. The RSM combines in-house calculations with proprietary modelling of weekly and monthly utilization rates on a PADD and U.S. level with impressive accuracy as proven at the beginning of July when the service showed a weekly crude input of 868,000 bpd in PADD 1 for week ending July 5 and was within 19,000 bpd of the U.S. Energy Information Administration (EIA) weekly report released five days later. The service covers over 18.5mn bpd of refining capacity in the U.S., information that was only previously available from the EIA on a delay.
“We’re providing critical information when it matters. This product calculates downstream unit inputs weekly, a granularity the market hasn’t had access to before,” said Suzanne Danforth, Director of Downstream Oil at Genscape. “It’s very exciting to extend our core technology to a new market need.”
RSM insights complete the crude oil puzzle. Changes in weekly crude input numbers often indicate inventory and fundamental changes, and changes in weekly downstream input numbers help clients better understand supply/demand fundamentals. This information helps traders, analysts, refiners, and other oil market stakeholders make better, more timely business decisions.
Clients access information via an on-demand data stream or through the Genscape API. For more information on the RSM, visit www.genscape.com.
About Genscape
Founded in 1999, Genscape is the leading global provider of real-time data and intelligence for commodity and energy markets.
Today, Genscape operates the world’s largest private network of in-the-field monitors, and added satellite reconnaissance, artificial intelligence, and maritime freight tracking to its data acquisition capabilities. Genscape delivers its unique brand of unsurpassed market intelligence across the commodity and energy spectrum including power, oil, natural gas, NGL, agriculture, biofuels, and maritime freight.
