Global Oil storage Market Analysis - Global Industry Size, Share, Trends and Forecast, 2018-2025

Published - Aug 2018 | Category - Energy and Power | No. of Pages - 107 | Published By - ARC

Introduction

The global oil storage market is undoubtedly the biggest of all. No market has been able to cross the demand of oil market. The world has parts which produce huge amount of oil and therefore for such productions, storage is very essential. Oil storage is a market strategy in which large, often vertically-integrated oil companies purchase oil for immediate delivery and storage when the price of oil is low and hold it in storage until the price of oil increases. Oils are stored in tanks and some tanks are so large that they can hold a massive 16 million gallons of crude oil at a time tank size. Oil storage is a means of collecting products before being distributed downstream to refineries and retailers.

Market Drivers

The Global oil storage market will witness an appreciable growth on account of continued volatility of oil & gas prices and resultant severe oil glut. The oil storage market is set to grow on account of increasing demand for the storage of large quantities of low and medium flash point petroleum products. The Ability to effectively minimize the volatile organic compound emissions and product losses will make the adoption of these tanks preferable over other alternates. The Emerging demand to store liquefied gases including LPG & LNG having extremely low flash points will stimulate the spherical oil storage market.


 

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