Annual and monthly streamflows for 729 rivers from a global data set are used to assess the adequacy of five techniques to estimate the relationship between reservoir capacity, target draft (or yield) and reliability of supply. The techniques examined are extended deficit analysis (EDA), behaviour analysis, sequent peak algorithm (SPA), Vogel and Stedinger empirical (lognormal) method and Phien empirical (Gamma) method. In addition, a technique to adjust SPA using annual flows to account for within-year variations is assessed. Of our nine conclusions the key ones are, firstly, EDA is a useful procedure to estimate streamflow deficits and, hence, reservoir capacity for a given reliability of supply. Secondly, the behaviour method is suitable to estimate storage but has limitations if an annual time step is adopted. Thirdly, in contrast to EDA and behaviour which are based on time series of flows, if only annual statistics are available, the Vogel and Stedinger empirical method compares favorably with more detailed simulation approaches.