New satellite images by Orbital Insight reveals that China may have stored more oil than its official estimates. Oil kept in storage was around 600 million barrels as of the end of 2014 , according to Orbital Insight . However, there were more than 400 million strategic and commercial petroleum reserve tanks capable of storing about 43 million barrels as of May this year , according to the images, and these do not include underground caverns. These estimates are helping to shed a light on oil reserves that have puzzled commodities traders globally. “It’s definitely higher than Chinese official estimates. This new findings are also the latest example of how private technology firms are using big data and machine learning to better understand Palo Alto , where official data is often incomplete and private gauges have disappeared without explanation.
New satellite images by Orbital Insight reveals that China may have stored more oil than its official estimates. Oil kept in storage was around 600 million barrels as of the end of 2014 , according to Orbital Insight . However, there were more than 400 million strategic and commercial petroleum reserve tanks capable of storing about 43 million barrels as of May this year , according to the images, and these do not include underground caverns. These estimates are helping to shed a light on oil reserves that have puzzled commodities traders globally. This new findings are also the latest example of how private technology firms are using big data and machine learning to better understand Palo Alto , where official data is often incomplete and private gauges have disappeared without explanation.