Key Market Indicators
Venezuelan energy consumption is projected to hit approximately 2.25 exajoules by 2028, up from around 2.21 exajoules in 2023. This marks an annual growth rate of 0.2%. However, this comes against the backdrop of a historical decline. Since 1970, Venezuelan energy demand has been decreasing by an average of 3.1% per year. In 2023, Venezuela ranked 37th globally in energy consumption, narrowly trailing Sweden, which reported a similar figure of 2.21 exajoules. The United States, India, and Russia held the top three positions in the global ranking.
