Who We Are
OPIS believes there should be complete price transparency across the oil supply chain so that all stakeholders can buy and sell petroleum products confidently. We provide that transparency through educational courses, software tools, real-time news and pricing services, and market-specific benchmark pricing reports. Being a reliable information source with world-class customer service is important to us, as it helps fulfill our mission to enable customers to make smarter, more informed decisions. Navigating oil price volatility is tough – OPIS strives to make it a little easier.
OPIS's Core Values
- To provide the highest quality content, with accuracy and reliability paramount.
- To be fiercely independent, demonstrating integrity and honesty always.
- To be opportunistic, acting quickly and aggressively to assess and meet customer needs.
Oil Price Information Service (OPIS), an IHS Markit company, is one of the world's most comprehensive sources for petroleum pricing and news information. OPIS began covering petroleum news in 1977 with the launch of the award-winning Oil Express Newsletter. In 1980, OPIS pioneered "rack" price discovery for thousands of wholesalers, and now maintains the world's most comprehensive database of U.S. wholesale petroleum prices, publishing more than 30,000 rack prices each day at over 1,500 terminals in nearly 400 market locations.
In 1981, OPIS began providing spot price assessments for all refined products and later renewable fuels and natural gas liquids. Today, OPIS spot gasoline, diesel, jet fuel, renewable fuels and natural gas liquids prices are highly benchmarked in the U.S. West Coast and other key markets. OPIS's refinery feedstocks and LPG prices are also considered a preferred benchmark by many U.S. and international traders. All OPIS spot and rack prices are available historically to customers via our web-based TimeSeries database.
In 1999, OPIS launched the first retail fuel pricing database in North America. With its unique ability to map retail prices back to wholesale markets, it quickly launched a retail margin service. OPIS now receives daily gasoline and diesel prices for nearly 140,000 retail outlets in the U.S. and Canada. OPIS prices are used by AAA, Microsoft (MSN Autos), Garmin, MapQuest and dozens of other website and mapping companies, in addition to its core oil company base.
OPIS is comprised of more than 50 information specialists, including the most experienced editors in the business, combining over 200 years of industry experience. Our editors not only cover the market, and report breaking stories –- but also provide inside analysis on what the trends mean and how they could affect prices and purchasing decisions. They are joined by customer service, sales, marketing, information technology and conference specialists, who strive to provide quality products, services and service to our customers.
Our client list includes the top 200 oil companies, thousands of distributors, traders, government and commercial buyers and sellers of petroleum products worldwide.