Oil and Gas Storage Service Market to Witness Huge Growth by 2023: Leading Key Players: Royal Vopak, Oiltanking, Magellan Midstream Partners, L.P, Buckeye Partners, L.P.
The oil storage service market is witnessing a considerable rise in the current scenario. Companies use oil storage as a strategic tool in order to get returns in the global market. They purchase oil at low prices and wait until prices rise before selling. Moreover, a "contango" condition is witnessed in the oil market where it is expected that people will be willing to pay more in the future than at the current price.