London-based Energy Aspects has moved further into AI through acquisition
The acquired OilX will complement the firm’s research with its AI-driven analytics.
Energy Aspects (EA), a leading energy and macro research consultancy headquartered in London has acquired OilX, a pioneer in AI-driven energy data analytics. OilX’s real-time data technology will enhance EA’s insights, and in turn, the company will benefit from the consultancy’s proprietary data sets and world-class subject matter experts, improving its data-driven insights to clients.
OilX’s unique energy market platform offers sophisticated ‘nowcasting’ capabilities, which enable its clients to understand energy markets as they evolve. It utilizes an advanced combination of AI, satellite and tanker tracking data, and clever UX design, for an effective and user-friendly interface. The company’s product range covers crude oil, refined products, biofuels and NGLs, of which it can provide market analysis ahead of official data releases and relative to consensus estimates. Users are able to obtain instant responses through its intelligent WhatsApp bot, regarding the entire global oil supply and 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 EA. “With OilX becoming part of EA, 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.”
EA’s purchase of OilX is part of its ambitious growth plan, following its acquisition of Medley Global Advisors in 2020, a macro policy research service for hedge funds, asset managers, banks, and institutional investors. It has a roadmap in place to integrate the platforms in the short-medium term, allowing for a smooth customer user experience in accessing both offerings.