In 2023, Egypt's oil consumption stood at 1.73 Exajoules. From 2024 to 2028, oil consumption is forecasted to rise steadily from 1.85 Exajoules to 2.20 Exajoules.
Year-on-year, the oil consumption is expected to increase by 6.9% in 2024, 6.5% in 2025, 4.6% in 2026, 3.9% in 2027, and 2.8% in 2028. Analyzing the last two years, the increase from 2026 to 2027 is 3.9%, and from 2027 to 2028, it is 2.8%. The Compound Annual Growth Rate (CAGR) from 2024 to 2028 is projected to be around 5.3% per year.
Future trends to watch for include advancements in energy efficiency, shifts towards alternative energy sources, and potential changes in economic growth rates, which could impact oil consumption patterns in Egypt.
