Saudi oil storage facilities under pressure, Gulf oil-producing countries face storage bottlenecks

汇通财经2026/03/04 02:19

Show original

Bitget offers one-stop trading for cryptocurrencies, stocks, and gold. Trade now!

A welcome pack worth 6200 USDT for new users! Sign up now!

(1) According to geospatial analytics company Kayrros, Saudi Arabia's main oil storage facilities are rapidly being filled, as the key export channel, the Strait of Hormuz, remains effectively closed to shipping. (2) Kayrros co-founder and chief analyst Antoine Halff revealed that as of March 1, the Ju'aymah terminal on Saudi Arabia's east coast "will soon run out of remaining storage capacity." Meanwhile, at the Ras Tanura refinery, which was shut down following this week's Iranian attack, four out of its six storage tanks have already been filled. (3) Halff also pointed out that due to the closure of the strait, Iraq has begun to cut production at its largest oil field. He emphasized, "Iraq's lower storage capacity is a structural vulnerability. If the Strait of Hormuz continues to be blocked, other countries may soon face similar situations." Data shows that the total onshore oil storage capacity of the five Arab oil-producing countries in the Gulf region is about 350 million barrels. As of March 1, the observed crude oil inventories in these countries were about 175 million barrels. Halff added that actual operational capacity rarely exceeds 80% of nominal storage capacity.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

Understand the market, then trade.

Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.

Trade now！

Power Root bought back 134,300 ordinary shares on Oct. 7, 2026, paying MYR 147,891.13. Purchases were priced between MYR 1.08 and MYR 1.12; all shares were retained as treasury stock. Treasury shares rose to 16,051,800, representing 3.78% of issued shares. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Power Root Bhd published the original content used to generate this news brief via Bursa Malaysia (KLSE) (Ref. ID: 3712895) on October 07, 2026, and is solely responsible for the information contained therein.

Bitget•2026/10/07 09:24

EPF Board trims IOI Corp stake, disposes 800,000 shares; holding at 18.651%

Malaysia’s EPF cut its stake in IOI Corp via the disposal of 800,000 ordinary shares on Oct. 2, 2026. EPF’s direct holding stood at 1,172,249,528 shares, equal to 18.65% of issued shares, following the transaction. The disclosure was dated Oct. 5, 2026, with the company receiving the notice on Oct. 7, 2026. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. IOI Corporation Berhad published the original content used to generate this news brief via Bursa Malaysia (KLSE) (Ref. ID: 3712867) on October 07, 2026, and is solely responsible for the information contained therein.

Bitget•2026/10/07 09:21

Elon Musk reportedly contacts TSMC, Intel CEO Pat Gelsinger quickly responds: Terafab collaboration continues

Intel (INTC.US) CEO Patrick Gelsinger stated that the company will continue its collaboration with Elon Musk on the Terafab project.

智通财经•2026/10/07 09:08