Overhead view of Buckeye’s Bahamas Hub. Photo: Buckeye Global Marine Terminals.

Ursa Space Systems has unveiled its Caribbean Oil Storage Report, a weekly report of Caribbean oil inventories. The product is the newest release in a series of regional expansions to achieve global oil storage coverage in early 2018.

According to Ursa, the Caribbean islands serve as a “stopping point” for crude oil exporters in South America, Africa and the Middle East. If there is a quick surge of demand in the United States, backup crude is available in the Caribbean — but information about the region remains a “black hole to organizations that need to make informed decisions,” said Ben Cross, former managing director of Morgan Stanley.

Ursa’s weekly report covers more than 250 tanks in 10 sites, representing approximately 100 Mbbls and 90 percent of floating-top capacity in the Caribbean. In addition, Ursa provides contextual information such as owner and whether each tank is associated with a refinery.

Ursa debuted its first commercial product, a weekly report on China’s crude oil storage, in early May.