Key Market Indicators
Spain is poised to see a rise in biofuel demand, with figures expected to reach approximately 29,000 barrels of oil equivalent per day by 2028. This marks an increase from about 26,000 barrels per day in 2023, growing at an annual compound rate of 2%. Since 2005, however, Spanish biofuel demand has experienced a decline, dropping by 4% each year on average. On the production front, Spain's biofuel output is projected to hit around 36,000 barrels of oil equivalent per day by 2028. This is up from roughly 32,000 barrels per day in 2023, also reflecting an annual growth rate of 2%. Despite this projected growth, the country's biofuel supply has faced a downward trend since 2005, decreasing by 4.5% annually.
