The volume of oil pipeline national transport in the US has shown significant fluctuations over the years. In 2023, the actual volume stood at 1,019.7 million metric tons. The data reveals a general upward trend since 2013, with annual variations showing significant increases and occasional declines. Noteworthy spikes occurred in 2017 with a 10.73% rise and in 2021 with a 15.9% increase. The years 2020 saw a substantial dip of 15.92%, largely attributable to the COVID-19 pandemic's impact. The last two years witnessed a moderate YoY growth of 6.55% in 2022 and 1.18% in 2023.
Over the next five years, the forecasted volume of oil pipeline transport continues its gradual ascent, with an average annual growth rate (CAGR) of 0.95%. The forecast indicates that the value is expected to reach 1,079.1 million metric tons by 2028, marking a total growth of approximately 4.83% over this period. This sustained growth suggests a resilient and steadily expanding oil pipeline transport sector in the US.
Future trends to watch for include the potential impact of environmental policies, technological advancements in pipeline infrastructure, and fluctuations in global oil markets which could influence both volume and growth rates. Monitoring these factors will be crucial for anticipating further changes within the industry.
