(MENAFN) Iran and Oman are expected to lead major growth in the oil storage industry within the Middle East 2018-2022.
GlobalData suggested that Iran and Oman are to become the most countries in the region to put in oil storage output.
The forecast has been made in a report the data and analytics company issued under the title 'Oil Storage Industry Outlook in Middle East to 2022'.
The report noted that the output of oil storage in the Middle East hit 80,005.7 thousand cubic meters (mcm) last year, amounting for 5.9 percent of the global oil storage capacity.
"Oman is expanding its oil storage capacity to increase crude oil and petroleum products exports from the country," as stated GlobalData Oil & Gas Analyst Soorya Tejomoortula.
The analyst added "new storage terminals are being planned along its coast line for easy access to the oil markets in South Asia, Africa, and Far East."
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