Oil consumption in Mexico stood at 4.10 Exajoules in 2023. The forecasted data from 2024 to 2028 shows a gradual increase from 4.17 Exajoules to 4.27 Exajoules. The year-on-year variations are relatively modest, indicating incremental growth: 0.72% from 2024 to 2025, 0.48% from 2025 to 2026, 0.71% from 2026 to 2027, and 0.47% from 2027 to 2028. Over the last two years, the total variation has been 2.37%. The Compound Annual Growth Rate (CAGR) over the 5-year period is approximately 0.81% per year.
Future trends to watch for include shifting energy policies that may affect oil consumption, advancements in renewable energy, and changes in industrial demand. Monitoring these factors will be crucial for forecasting Mexico's oil consumption beyond 2028.