Robots Take Over Oil Trade And OPEC Is Scared To Death

Artificial intelligence has been making inroads into the oil and gas industry for a while now after the industry realized all the benefits it could reap from the deployment of these technologies. Now, it has begun changing oil and gas trading as well. First of all, it bears noting the term artificial intelligence has developed into an umbrella term for a host of predictive and analytical technologies that are a far cry from the average layman’s idea of AI, that is, machines capable of independent thought. We are not there yet. Yet the technology has advanced sufficiently to begin transforming the oil and gas industry, including the trade of these commodities and products. For now, the space of AI-enabled energy trading providers is relatively empty. One notable recent addition to it was OilX, an oiltech startup that provides traders with real-time oil analytics based on a combination of satellite tracking data and reports from various official organizations, including customs, JODI, and statistics agencies. Rest of this article.

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Source: CTRM Center

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