The fuel oil refinery output in Spain experienced significant fluctuations over the past decade. From 2013 to 2020, the output saw pronounced declines, particularly in 2020 due to a sharp 51.68% year-on-year drop, likely impacted by the global COVID-19 pandemic. Recovery was observed in 2021 and 2022, with a notable 65.8% increase in 2022, lifting the value to 49.21 Thousand Gigawatthours by 2023, a modest 7.7% rise from 2022.
Looking ahead, forecasts indicate a gradual decline in output from 2024 onwards, with a projected average reduction of 3.03% per year over the next five years. By 2028, the output is expected to decrease by 14.24% compared to 2023. Key future trends to watch include advancements in alternative energy sources, regulatory changes, and the impact of economic recovery on fuel demand.
