In 2023, Thailand's oil consumption was recorded at approximately 54.60 million metric tons. The forecasted data shows a steady increase in oil consumption between 2024 and 2028. The year-on-year variations are:
- 2024: 1.41%
- 2025: 1.37%
- 2026: 1.35%
- 2027: 1.32%
- 2028: 1.30%
The Compound Annual Growth Rate (CAGR) for the period from 2024 to 2028 is calculated to be approximately 1.35%, showcasing a consistent upward trend in oil consumption.
Future trends to watch for include potential impacts of sustainability initiatives, increased adoption of renewable energy sources, and advancements in energy efficiency measures which may influence oil consumption patterns. Additionally, economic growth factors, industrial demands, and transportation sector needs will continue to play key roles in determining future oil consumption in Thailand.
