The crude oil energy supply in Turkey has seen significant fluctuations over the decade. Starting at 867.13 thousand terajoules in 2013, there was a notable increase in 2015, reaching 1183.6 thousand terajoules. The supply continued to rise until 2017, before dropping to 1059.7 thousand terajoules in 2018. It then surged to 1479.7 thousand terajoules in 2019, followed by slight variations in the following years. In 2023, the supply stood at 1504.1 thousand terajoules.
Year-on-year variation:
- From 2022 to 2023, the crude oil supply increased by 1.04%.
- The last two years consider an average annual growth rate (CAGR) of 7.26%.
Last 5 years CAGR:
- The average annual growth rate over the last five years stood at 4.19%.
Forecast:
- The forecast indicates a stable but modest increase with a five-year CAGR of 0.77%, reaching 1579.2 thousand terajoules by 2028.
Trends to watch for in the future include geopolitical developments, technological advancements in energy extraction, and shifts in global oil demand which could impact supply trends significantly. Monitoring these trends will be crucial for understanding future supply dynamics in Turkey's crude oil energy market.
