Aboveground vertical steel storage tanks use stiffener rings to prevent their shell wall from buckling under wind loading. The existing stiffener rings design rules from API 650 standard is known to be overly conservative. This study investigates the possibility of modifying the design rules by reducing the required size of the top stiffener ring to the same size as the intermediate stiffener ring. In this study, we used finite element analysis (FEA) to perform linear bifurcation analysis (LBA) and geometrically nonlinear analysis including imperfections (GNIA) to obtain failure load of modeled tanks. The buckling pressure load was obtained to ensure it is larger than the design pressure. Moreover, the effects of higher strength materials, different buckling modes, and various wind profiles were also studied to ensure the design suggested by this study is practical and universal to different situations. The results show that for cylindrical storage tanks, which only needs one intermediate stiffener ring, the size of the top stiffener ring can be set to the same size as the intermediate stiffener ring.