Oil producers are looking for storage and these stocks could benefit, according to CFRA

Oil-storage tanks are seen from above in Carson, California, April 25, 2020.
Robyn Beck | AFP | Getty Images

(This story is for CNBC PRO subscribers only.)

The world is running out of places to store oil as the coronavirus pandemic continues to sap demand for crude, and for companies that still have access to storage there could be upside ahead, according to research firm CFRA.

"Firms with available storage space are going to fetch strong pricing, given too many producers are seeking places to shelve unneeded crude," analyst Stewart Glickman said in a recent note to clients.

West Texas Intermediate for June delivery traded around $13 on Tuesday. Prices on longer-dated futures contracts were significantly higher, meaning producers have a "huge incentive" to store oil.

As producers scramble to find storage, Glickman said these are the names that could benefit:

More In Pro News and Analysis

CNBC ProThe retail trader is back led by the meme gang, and these are their favorite stocks
CNBC ProTop tech investor reveals why he thinks PayPal is a buy
CNBC ProCNBC in 5 minutes: All the buy, sell and hold stock calls from Wednesday