In 2023, the re-import of petroleum-based lubricating oil to the UK stood at an unspecified baseline. By 2024, a forecasted volume of 43.74 thousand kilograms is expected, progressively increasing to 54.21 thousand kilograms by 2028. This indicates a steady growth rate, marking a compound annual growth rate (CAGR) over this five-year period.
Future trends to watch for:
- Advancements in sustainable technologies impacting oil demand.
- Regulatory changes influencing re-import activities.
- Global market fluctuations affecting trade balance in energy goods.
