Global Oil Storage Market- Industry Analysis and forecast 2026

The global oil storage market is driven by low crude oil prices, increasing energy production rate, Requirement of additional oil storage capacity, increasing oil product trade movement, ongoing spending toward O&G projects. However, the decrease in production investment and a decline in production & exploration activities are hampering the market growth at the global level. Technological advancement, investment in the development of storage facilities and new pipelines for improving storage capacity of tanks, and an increase in oil demand are likely to create lucrative opportunities for key players operating in the global oil storage market. This is evidence, as the revenue from the increasing oil demand estimated to reach approximately US$ XX million by 2026. Involvement of high capex in E&P is the key challenge for the global oil storage market during the forecast period.

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