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The tanks in which oil is stored on land are almost three-quarters full worldwide.
This is the result of an analysis by data specialist Kpler, which is available in the journal “Spiegel”. Reserves that states use as a strategic reserve were estimated to have 368 million barrels of oil on Thursday. Around 902 million barrels still fit in commercial tanks. In total, about 73 percent of global capacity is occupied.
According to Kpler, there is still significant space in commercial warehouses in the United States and China. There are still over 100 million barrels of space there. Japan and South Africa have room for more than 40 million barrels. There are remaining capacities of more than 20 million barrels in Saudi Arabia, South Korea, Canada, India, the United Arab Emirates, Great Britain and Italy.
According to Kpler, the rate at which the tanks are filled has increased. In January, about 3.3 million barrels per day flowed to land in tanks, while in April the average was almost 3.5 million barrels. The amount of oil stored in large ships increased from 100 to 150 million barrels in the same period.
DJG / hru
HAMBURG (Dow Jones)
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