Subscriber Only
Markets
Oil Traders Are Now Watching Workers’ Phones to Spot Problems at Refineries
By
Updated on
-
Geolocation data shows staff changes as contractors called in
-
Unconventional data is becoming more widely available: BNEF
Geolocation data mapping by Orbital Insight of Motiva Enterprises's Port Arthur refinery in Texas.
Source: Google Basemap; geolocation data by Orbital Insight
In the $40 trillion global oil-trading market, the smallest clue can be worth millions.
Take the number of people working at a refinery: Outside contractors are brought in for routine maintenance or to handle accidents that could limit demand for crude oil or curb the supply of fuels. While oil companies rarely reveal such sensitive information, traders can gain insight into refinery operations by tracking the number of mobile phones at the plant, a proxy for the arrival of support crews.
