Platts Builds Blockchain Oil Supply Data Collection Network
The Blockchain network will capture and aggregate oil inventory data and distribute it to clients and the local regulator.
Platts already served as the exclusive publisher of Fujariah’s weekly oil inventory figures—which commodity traders can use to determine supply and demand and to set prices—but previously, the 11 terminal operators submitted data to FedCom, which then passed the aggregated data to Platts.
“Fujariah has an amazing physical infrastructure… as a potential export hub for crude oil and for storage of distillates. And it wants to be a trading hub where people can come to manage their inventory and
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