JP Morgan: Iraq has the lowest oil storage capacity among Gulf countries

Data released by JPMorgan on Monday showed that Iraq has one of the lowest oil storage capacities among Gulf countries compared to other countries in the region.

According to the data, Saudi Arabia leads the Gulf countries in storage capacity, with a capacity of about 65 days in the event of redirecting exports and 36 days without redirection, which gives it great flexibility in managing oil supplies.

Next comes Qatar with a storage capacity of about 20 days, followed by the United Arab Emirates with a capacity of up to 19 days with the possibility of redirecting exports and 16 days without that, then Kuwait with a storage capacity of approximately 14 days.

In contrast, Iraq ranks last among the aforementioned countries with a storage capacity estimated at only about 6 days, reflecting the limited nature of its oil storage infrastructure compared to the rest of the Gulf countries.

These figures show a clear disparity in oil storage capacities among the countries of the region, with some countries having a wider infrastructure that allows them to keep larger quantities of oil for longer periods.

Shafaq.com