Forecast: Oil Products Opening Stock in Finland

Finland’s oil products opening stock in 2023 stood at 3.47 million metric tons. Over the past decade, the stock has seen fluctuations, starting at 2.92 million metric tons in 2013 and peaking at 3.74 million metric tons in 2016. The year-on-year variations ranged from a high of 22.76% in 2013 to a decrease of 6.84% in 2020. The compounded annual growth rate (CAGR) for the last five years indicates an average variation of 0.49% per year, reflecting relatively stable stock levels.

Looking forward, the forecasted data from 2024 to 2028 predicts a gradual increase in oil products opening stock, reaching 3.72 million metric tons by 2028. The forecasted five-year CAGR is 1.09%, suggesting a modest but steady growth in stock levels. The projected growth rate over the next five years is 5.6%.

Trends to watch for:

• Economic factors influencing oil consumption and storage needs in Finland.
• Policy shifts towards renewable energy and their impact on oil stock.
• Global oil price fluctuations affecting local stock decisions.
• Technological advancements in storage efficiency and management.
• Geopolitical events impacting oil supply chains and reserves.