Global onshore and floating oil storage capacity 2020
The largest ever oil surplus is set to hit markets in April 2020, with serious concerns about how to store excess oil. Roughly 7.2 billion barrels of crude oil and crude oil products are currently stored onshore and on floating vessels, meaning that only 1.7 billion barrels of onshore storage were available in March 2020. The source mentions that operational constraints would mean that these capacities would be filled up within just a few months.