{"id":5845,"date":"2017-04-04T12:01:19","date_gmt":"2017-04-04T12:01:19","guid":{"rendered":"http:\/\/www.oilnewskenya.com\/?p=5845"},"modified":"2017-04-04T12:01:19","modified_gmt":"2017-04-04T12:01:19","slug":"oil-on-water-shrinks-by-17-on-back-of-opec-deal-vortexa","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/oil-on-water-shrinks-by-17-on-back-of-opec-deal-vortexa\/","title":{"rendered":"\u00a0Oil on water shrinks by 17% on back of OPEC deal &#8211; Vortexa"},"content":{"rendered":"<p>Oil\u00a0on\u00a0water levels have reduced by as much as 17% since the beginning of the year according to new figures generated by Vortexa, a newly launched analytics platform focused on the oil markets.<\/p>\n<p>The figures point to the effect of the December 2016 agreement between OPEC and 11 non-OPEC member countries, aimed at correcting the global over-supply of oil.<\/p>\n<p>Co-Founder and CEO Fabio Kuhn commented:\u00a0\u201cThe effect of the OPEC agreement on the global balances of crude oil is one of the most important questions in the oil market at the moment, but until now access to accurate and reliable data on the topic has been limited.<\/p>\n<p>\u201cWe have seen a significant reduction in global oil supply since January, with oil\u00a0on\u00a0water going from 978 million barrels on January 1st\u00a0to 812 million barrels on April 3rd.<\/p>\n<p>\u201cWith an average level of 930 million barrels over the last year, oil\u00a0on\u00a0water volumes are sizeable and are known to be the first level of stock to respond to changes in oil supply.<\/p>\n<p>\u201cThese changes are a signal that the rebalancing is happening faster than many in the market believe.\u201d<\/p>\n<p>Vortexa is an analytics platform that absorbs billions of data points from\u00a0hundreds of sources using AI, deep learning algorithms and Bayesian reasoning to reveal the past, present and future movement of oil globally.<\/p>\n<p>It is the first analytics platform using AI capabilities in the energy trading industry to provide an unprecedented view of global oil movements.<\/p>\n<p>Founded by a team with extensive energy market and technological expertise, Vortexa\u2019s launch comes following a successful test phase with five of the industry\u2019s largest physical energy traders, and backing from prominent tech investors in Europe.<\/p>\n<p>Key features of the Vortexa platform:<\/p>\n<ul>\n<li>Live view of global oil\u00a0\u2013 Nearly every seaborne oil movement in real-time and what is expected in the next few months along with prediction of destination, cargo volumes and more than 600 grades, covering more than 94% of all cargos globally.<\/li>\n<li>Historical flow analysis\u00a0&#8211; View of seaborne oil flows from and to any location in the world over the last two years. Figures are built on a cargo-by-cargo basis, a capability that also provides an early view of import\/export figures for OPEC, trading regions or individual countries.<\/li>\n<li>Advanced alerting\u00a0\u2013 Using an easy and intuitive rule setting mechanism, traders are notified of any new oil movement in their area of interest.<\/li>\n<\/ul>\n<p>Kuhn further commented:\u00a0\u201cThe massive growth in data, particularly coming from new satellite constellations, together with recent breakthroughs in artificial intelligence allow Vortexa to solve extremely complex, large-scale problems directly relevant to the energy industry.<\/p>\n<p>\u201cWith Vortexa, oil traders now have access to information on crude oil flows worldwide with a superior level of detail, accuracy and speed. In the next few months, we will also be covering refined products followed by a real-time view of the global supply and demand balance for oil, across the barrel.<\/p>\n<p>\u201cWe are very excited about the future of the energy trading industry &#8212; and our role in it.&#8221;<\/p>\n<p>Co-Founder and Chairman Etienne Amic commented:\u00a0 \u201cVortexa\u2019s primary role is to provide our clients with a systematic, data-driven understanding of physical oil flows, which have a real impact on their trading decisions.<\/p>\n<p>\u201cMore importantly, Vortexa provides immediately accessible information to traders when they need it the most, not in reports weeks or months later.<\/p>\n<p>\u201c The strong feedback we have received during our beta testing period from some of the best names in the energy trading industry has given us the confirmation that the market is ready for Vortexa.&#8221;<\/p>\n<p>Vortexa is backed by investors including Skype co-founder Jaan Tallinn,\u00a0 Michael Halbherr, former CEO of HERE, one of the largest\u00a0mapping, navigation services and location solutions\u00a0companies in the world; and venture capital firm Mosaic Ventures, whose partners have a proven track record of investing in category leading innovative companies such as Alibaba, Criteo and King.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil\u00a0on\u00a0water levels have reduced by as much as 17% since the beginning of the year according to new figures generated by Vortexa, a newly launched analytics platform focused on the &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/oil-on-water-shrinks-by-17-on-back-of-opec-deal-vortexa\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":5846,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[11],"tags":[6050,538,6041,6044,6046,5342,6047,6049,6048,6043,6042,1920,6045,6040],"class_list":["post-5845","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","tag-analytics","tag-crude-oil","tag-flow-analysis","tag-here","tag-jaan-tallinn","tag-mapping","tag-michael-halbherr","tag-mosaic-ventures","tag-navigation","tag-oil-on-water","tag-oil-supply","tag-opec","tag-skype","tag-vortexa","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/04\/crude-oil-ship.jpg?fit=730%2C376&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-1wh","jetpack-related-posts":[{"id":5151,"url":"https:\/\/www.oilnewskenya.com\/index.php\/global-oil-demand-slowing-at-a-faster-pace-than-predicted\/","url_meta":{"origin":5845,"position":0},"title":"Global oil demand slowing at a faster pace than predicted","author":"","date":"September 13, 2016","format":false,"excerpt":"Global oil demand growth is slowing at a faster pace than initially predicted, the newly released IEA\u00a0Oil Market Report\u00a0\u00a0(OMR) for September informs subscribers. For 2016, a gain of 1.3 mb\/d is expected \u2013 a downgrade of 0.1 mb\/d on our previous forecast due to a more pronounced 3Q16 slowdown. Momentum\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/07\/oil-workforce.jpg?fit=448%2C299&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":8276,"url":"https:\/\/www.oilnewskenya.com\/index.php\/opec-extends-oil-production-cuts-until-the-end-of-july\/","url_meta":{"origin":5845,"position":1},"title":"OPEC extends oil production cuts until the end of July","author":"","date":"June 8, 2020","format":false,"excerpt":"The 11th OPEC and non-OPEC Ministerial Meeting was held via vide oconference, on Saturday, 06 June 2020, under the Chairmanship of HRH Prince Abdul Aziz Bin Salman, Saudi Arabia\u2019s Minister of Energy, and co-Chair HE Alexander Novak, Minister of Energy of the Russian Federation. The Meeting recalled the rights of\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/01\/OPEC.jpg?fit=640%2C360&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/01\/OPEC.jpg?fit=640%2C360&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/01\/OPEC.jpg?fit=640%2C360&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":8120,"url":"https:\/\/www.oilnewskenya.com\/index.php\/opec-still-has-an-important-role-to-play-in-global-oil-market\/","url_meta":{"origin":5845,"position":2},"title":"OPEC still has an important role to play in Global Oil Market","author":"","date":"April 21, 2020","format":false,"excerpt":"By Sebastian Wagner Scan Western news about OPEC from the last few years, and a common observation tends to appear: OPEC had a huge influence on the global oil market back in the day. Now, in the shale oil era, not so much. I would argue that OPEC can safely\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8102,"url":"https:\/\/www.oilnewskenya.com\/index.php\/opec-ends-oil-price-war-awaits-g20-meeting-for-opec-deal\/","url_meta":{"origin":5845,"position":3},"title":"OPEC+ ends Oil Price War, awaits G20 Meeting for OPEC+ Deal","author":"","date":"April 14, 2020","format":false,"excerpt":"In a move to save the oil industry \u2014 facing the biggest crisis in its history \u2014 OPEC and Russia have forged ahead on new production cuts, with the OPEC+ group agreeing to eliminate 10 million barrels of crude per day for an initial two-month period to save a glutted\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/04\/cea5e714b606624d2b431f32a78bba90.jpeg?fit=800%2C533&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/04\/cea5e714b606624d2b431f32a78bba90.jpeg?fit=800%2C533&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/04\/cea5e714b606624d2b431f32a78bba90.jpeg?fit=800%2C533&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/04\/cea5e714b606624d2b431f32a78bba90.jpeg?fit=800%2C533&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":9587,"url":"https:\/\/www.oilnewskenya.com\/index.php\/angola-and-africa-must-support-minister-diamantino-at-opec-for-their-oil-sector-to-prosper\/","url_meta":{"origin":5845,"position":4},"title":"Angola and Africa must support Minister Diamantino at OPEC for their oil sector to prosper","author":"","date":"December 19, 2020","format":false,"excerpt":"The election of Angola to the rotating presidency of the conference of ministers of OPEC has thrust Minister Diamantino Pedro Azevedo, Minister of Mineral Resources, Petroleum and Gas of Angola to the forefront of efforts to stabilize global oil markets in 2021. The assumption of the Presidency of OPEC by\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/01\/OPEC.jpg?fit=640%2C360&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/01\/OPEC.jpg?fit=640%2C360&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/01\/OPEC.jpg?fit=640%2C360&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":8571,"url":"https:\/\/www.oilnewskenya.com\/index.php\/opec-launches-its-2020-annual-statistical-bulletin\/","url_meta":{"origin":5845,"position":5},"title":"OPEC launches its 2020 Annual Statistical Bulletin","author":"","date":"July 14, 2020","format":false,"excerpt":"The OPEC Secretariat today launched the 55th edition of one of its flagship publications, the Annual Statistical Bulletin (ASB), via videoconference and livestream on the OPEC website (www.opec.org). The launch was attended by Mohammad Sanusi Barkindo, OPEC Secretary General; Professor Jonas Puck, the Academic Director of the Executive Academy at\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/01\/OPEC.jpg?fit=640%2C360&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/01\/OPEC.jpg?fit=640%2C360&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/01\/OPEC.jpg?fit=640%2C360&ssl=1&resize=525%2C300 1.5x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/5845","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=5845"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/5845\/revisions"}],"predecessor-version":[{"id":5848,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/5845\/revisions\/5848"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/5846"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=5845"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=5845"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=5845"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}