NavigatIIR: Industrial Info Tracks $6 Billion Worth of Under-Construction Oil Storage/Terminals Projects

SUGAR LAND--April 23, 2020--Researched by Industrial Info Resources (Sugar Land, Texas)--Global oil storage has grabbed the public spotlight. Falling fuel consumption due to COVID-19 lockdowns, compounded by a recent price war between Saudi Arabia and Russia, has led to a massive buildup in crude inventories, sparking questions regarding how much unused storage capacity is left.

New storage capacity in the near future would certainly help. Industrial Info is tracking nearly 36 million barrels of new storage capacity worldwide that is planned to be placed in service from April through June.

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