Brazil's oil consumption in 2024 is forecasted at 5.11 Exajoules, marking a steady growth trend. By 2025, consumption is expected to reach 5.15 Exajoules, followed by a progressive increase each year: 5.2 Exajoules in 2026, 5.25 Exajoules in 2027, and 5.29 Exajoules by 2028. For context, Brazil's oil consumption stood at 5.05 Exajoules in 2023. The year-on-year variation from 2023 to 2024 is 1.19%, from 2024 to 2025 is 0.78%, from 2025 to 2026 is 0.97%, from 2026 to 2027 is 0.96%, and from 2027 to 2028 is 0.76%. The average CAGR from 2023 to 2028 is approximately 0.93% per year.
Future trends to watch for include potential impacts of renewable energy adoption, economic growth fluctuations, and policy changes favoring energy efficiency. These factors could alter the forecasted steady consumption growth, making ongoing market monitoring essential.
