In 2023, the Netherlands dominated the European Fuel Oil (Low Sulphur <1%) Closing Stock Share with 24.93 thousand metric tons, followed by Spain and Greece with 11.31 and 8.68, respectively. Year-on-year trends reveal significant increases in Ireland (25.51%) and Poland (58.29%), while Ukraine experienced a dramatic 34.49% decrease. Five-year CAGR shows a general upward trajectory for higher-ranked countries, indicating Netherlands' consistent growth. Conversely, several smaller markets, such as Malta and Ukraine, have seen declines.
Future trends to watch for include the potential impact of environmental regulations on low sulfur fuel oil demand, ongoing geopolitical tensions affecting supply chains, and further technological advancements in fuel alternatives possibly reshaping the market landscape.
Top countries in Fuel Oil (Low Sulphur <1%) Closing Stock Share by Country (Thousand Metric Tons)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Netherlands | 24.93 | 2023 | +1.39% | +21.37% | View data |
| 2 | 2 Spain | 11.31 | 2023 | +10.61% | +3.96% | View data |
| 3 | 3 Greece | 8.68 | 2023 | +6.67% | +13.73% | View data |
| 4 | 4 Sweden | 7.17 | 2023 | -6.82% | +4.1% | View data |
| 5 | 5 Finland | 7.01 | 2023 | +2.24% | -3.34% | View data |
| 6 | 6 Italy | 6.78 | 2023 | -17.44% | -14.91% | View data |
| 7 | 7 Belgium | 5.58 | 2023 | +1.84% | +7.22% | View data |
| 8 | 8 France | 5.13 | 2023 | -0.86% | +7.22% | View data |
| 9 | 9 Portugal | 4.48 | 2023 | +2.15% | -4.39% | View data |
| 10 | 10 Denmark | 4.39 | 2023 | -1.13% | +3.01% | View data |
