For highest level of resilience you can deploy the application between regions and distribute on availability domain and fault domains.
Reference:
https://www.oracle.com/cloud/iaas/faq.html

When you work with Oracle Cloud Infrastructure, one of the first steps is to set up a virtual cloud network (VCN) for your cloud resources.
VIRTUAL CLOUD NETWORK (VCN) :
A virtual, private network that you set up in Oracle data centers. It closely resembles a traditional network, with firewall rules and specific types of communication gateways that you can choose to use. A VCN resides in a single Oracle Cloud Infrastructure region and covers a single, contiguous IPv4 CIDR block of your choice. See Allowed VCN Size and Address Ranges. The terms virtual cloud network, VCN, and cloud network are used interchangeably in this documentation. For more information, see VCNs and Subnets.
SUBNETS :
Subdivisions you define in a VCN (for example, 10.0.0.0/24 and 10.0.1.0/24). Subnets contain virtual network interface cards (VNICs), which attach to instances. Each subnet consists of a contiguous range of IP addresses that do not overlap with other subnets in the VCN. You can designate a subnet to exist either in a single availability domainavailability domain or across an entire region (regional subnets are recommended). Subnets act as a unit of configuration within the VCN: All VNICs in a given subnet use the same route table, security lists, and DHCP options (see the definitions that follow). You can designate a subnet as either public or private when you create it. Private means VNICs in the subnet can't have public IP addresses. Public means VNICs in the subnet can have public IP addresses at your discretion. See Access to the Internet.

Oracle Cloud Infrastructure offers two distinct storage class tiers to address the need for both performant, frequently accessed "hot" storage, and less frequently accessed "cold" storage. Storage tiers help you maximize performance where appropriate and minimize costs where possible.
1) Use Object Storage for data to which you need fast, immediate, and frequent access. Data accessibility and performance justifies a higher price to store data in the Object Storage tier.
2) Use Archive Storage for data to which you seldom or rarely access, but that must be retained and preserved for long periods of time. The cost efficiency of the Archive Storage tier offsets the long lead time required to access the data. For more information, see Overview of Archive Storage.
The Oracle Cloud Infrastructure Object Storage service is an internet-scale, high-performance storage platform that offers reliable and cost-efficient data durability. The Object Storage service can store an unlimited amount of unstructured data of any content type, including analytic data and rich content, like images and videos.
With Object Storage, you can safely and securely store or retrieve data directly from the internet or from within the cloud platform. Object Storage offers multiple management interfaces that let you easily manage storage at scale. The elasticity of the platform lets you start small and scale seamlessly, without experiencing any degradation in performance or service reliability.
Object Storage is a regional service and is not tied to any specific compute instance. You can access data from anywhere inside or outside the context of the Oracle Cloud Infrastructure, as long you have internet connectivity and can access one of the Object Storage endpoints. Authorization and resource limits are discussed later in this topic.
Object Storage also supports private access from Oracle Cloud Infrastructure resources in a VCN through a service gateway. A service gateway allows connectivity to the Object Storage public endpoints from private IP addresses in private subnets. For example, you can back up DB systems to an Object Storage bucket over the Oracle Cloud Infrastructure backbone instead of over the internet. You can optionally use IAM policies to control which VCNs or ranges of IP addresses can access Object Storage. See Access to Oracle Services: Service Gateway for details.
Object Storage is Always Free eligible. For more information about Always Free resources, including additional capabilities and limitations, see Oracle Cloud Infrastructure Free Tier.
The following list summarizes some of the ways that you can use Object Storage.

OCI leverages advanced encryption that leads to fast performance, OCI does not over subscribe CPU, but only memory, and OCI hypervisor provides industry leading performance are WRONG.
However, OCI does back claims with SLAs and offers predictable pricing for all services.
Reference:
https://www.oracle.com/in/cloud/pricing.html

Oracle Cloud Infrastructure File Storage service provides a durable, scalable, secure, enterprise-grade network file system. You can connect to a File Storage service file system from any bare metal, virtual machine, or container instance in your Virtual Cloud Network (VCN). You can also access a file system from outside the VCN using Oracle Cloud Infrastructure FastConnect and Internet Protocol security (IPSec) virtual private network (VPN).
Large Compute clusters of thousands of instances can use the File Storage service for high-performance shared storage. Storage provisioning is fully managed and automatic as your use scales from a single byte to exabytes without upfront provisioning.
The File Storage service supports the Network File System version 3.0 (NFSv3) protocol. The service supports the Network Lock Manager (NLM) protocol for file locking functionality.
Oracle Cloud Infrastructure File Storage employs 5-way replicated storage, located in different fault domains, to provide redundancy for resilient data protection. Data is protected with erasure encoding.
The File Storage service uses the "eventual overwrite" method of data eradication. Files are created in the file system with a unique encryption key. When you delete a single file, its associated encryption key is eradicated, making the file inaccessible. When you delete an entire file system, the file system is marked as inaccessible. The service systematically traverses deleted files and file systems, frees all the used space, and eradicates all residual files.
Use the File Storage service when your application or workload includes big data and analytics, media processing, or content management, and you require Portable Operating System Interface (POSIX)-compliant file system access semantics and concurrently accessible storage. The File Storage service is designed to meet the needs of applications and users that need an enterprise file system across a wide range of use cases, including the following: