In 2023, Turkey's crude oil production stood at 44.21 Thousand Gigawatthours. The forecasted data for the upcoming years show a consistent upward trend. In 2024, production is expected to be 46.05 TWh, signifying a year-on-year increase of 4.15%. Subsequently, in 2025, production is forecasted to rise to 47.97 TWh, marking another 4.17% increase from the previous year. For 2026, the forecast is 49.87 TWh, growing by 3.96% year-on-year. In 2027, production is projected to reach 51.76 TWh, up by 3.79% compared to 2026. Finally, in 2028, an estimate of 53.62 TWh shows growth of 3.59% year-on-year. The compound annual growth rate (CAGR) over the five-year period from 2024 to 2028 is 3.93%.
Future trends to watch for include the potential impact of technological advancements on production efficiency, government policies regarding energy and environmental regulations, and global oil price fluctuations. Additionally, investments in renewable energy sources may influence Turkey's crude oil production landscape over the longer term.
