The forecasted oil consumption in Brazil shows a gradual increase from 2.57 million barrels per day in 2024 to 2.68 million barrels per day in 2028. This represents approximately a 4.3% increase over the five-year period. Notable year-on-year variations indicate consistent growth, with annual increases ranging from 0.78% to 1.14%. The Compound Annual Growth Rate (CAGR) over this period is approximately 1.06% per year. In 2023, the oil consumption stood slightly below the 2024 levels yet above 2.5 million barrels per day, suggesting stable demand transformation.
Future trends to watch for in Brazil's oil consumption include potential impacts from renewable energy policies, economic changes, and technological advancements in automotive efficiency which could alter the trajectory of oil demand. Monitoring shifts in governmental regulations and global oil markets will be crucial in assessing Brazil’s future consumption trends.
