Energy Aspects Acquires OilX, a Pioneer in AI Driven Data Analytics for Energy Markets
OilX’s advanced AI, proprietary data and nowcasting will further strengthen Energy Aspects’ industry-leading models and insights.
LONDON–(BUSINESS WIRE)–Leading energy and macro research consultancy Energy Aspects has acquired OilX, a pioneer in AI-driven energy data analytics. The acquisition will enhance Energy Aspects’ insights as OilX’s real-time data technology complements Energy Aspects’ forward-looking analysis. OilX, in turn, will benefit from Energy Aspects’ proprietary data sets and world-class subject matter experts, improving its data-driven insights to clients.
Founded in 2018 by Dr. Florian Thaler, OilX’s unique real-time energy market platform offers sophisticated ‘nowcasting’ capabilities, enabling its clients to understand energy markets as they evolve. OilX’s advanced technology utilises AI, satellite and tanker tracking data to create highly valuable proprietary data sets, and its UX design delivers high data usability.
OilX’s product range covers crude oil, refined products, biofuels and NGL’s. Their platform, the world’s first real-time oil supply and demand balance, provides users with market analysis ahead of official data releases and relative to consensus estimates. Additionally, the company’s WhatsApp bot enables users to receive an instant response to queries about the entire global oil supply/demand balance.
“We are thrilled to welcome OilX to our team and are optimistic about the many opportunities that this acquisition presents”, said Dr. Amrita Sen, co-founder and Director of Research at Energy Aspects. “With OilX becoming part of Energy Aspects, we will be able to deliver to our clients not only leading energy markets forecasting and insights but also the most accurate view of market movements as they happen.”
“I have always admired Energy Aspects as the undisputed industry leader in energy analysis” said Dr. Florian Thaler, CEO of OilX. “We are excited about the opportunity to become part of the Energy Aspects growth story and to combine state-of-the art AI technology with top class analysts to produce the highest quality information for our clients.”
Energy Aspects’ purchase of OilX is part of the company’s ambitious growth plan and follows its 2020 acquisition of Medley Global Advisors, a macro policy research service for hedge funds, asset managers, banks, and institutional investors, and a strategic investment from Summit Partners in 2022. Energy Aspects has a roadmap to integrate the platforms in the short-medium term, allowing for a smooth customer user experience in accessing both offerings.
Energy Aspects was founded in 2012 by energy industry experts Dr. Amrita Sen, Fredrik Fosse, and Richard Bronze to meet the need for timely, independent research that provides deep dives in energy market and macro fundamentals, grounded on robust data and timely forecasts, all while maintaining a commitment to timeliness and precision. Over 500 organisations rely on Energy Aspects’ broad product range covering short-term, long-term, and macro trends, and direct access to analysts for specific queries. It is headquartered in London with additional offices in New York, Houston, Singapore, Tokyo and India.
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