Saudi Arabia oil storage filling

Oil storage facilities in Saudi Arabia continue to fill at a record pace due to the closure of the Strait of Hormuz. Key terminals in Saudi Arabia and Iraq are rapidly running out of available capacity.

According to Kayross:

- The Ju'aymah terminal was practically full by March 1.

- At the Ras Tanura refinery (permanently shut down after Iranian attacks), 4 out of 6 tanks are filled.

- In Iraq, the Basra terminal has less than two days' worth of export capacity left; production at major fields has already begun to be cut.

The total capacity of onshore storage facilities in the five Persian Gulf countries is about 350 million barrels, half of which had already been used by March 1.