The volume of oil pipeline transport in the US has shown a trend of overall growth from 2013 to 2023. Starting at 1.0146 billion metric tons in 2013, it reached 1.2708 billion metric tons in 2023. This represents a general upward trajectory, despite some fluctuations, particularly in 2020 when there was a significant drop of 15.91% due to economic disruptions. The average growth rate (CAGR) over the last five years up to 2023 stands at 1.27%. Future projections indicate a consistent but modest increase in volume through 2028 with an anticipated 5-year CAGR of 0.95% and a total growth rate of 4.86%.
Future trends to watch for:
- Impact of regulatory changes and environmental policies on oil transportation volumes.
- Technological advancements in pipeline infrastructure and monitoring systems.
- Shifts in global oil demand and the potential for increased renewable energy sources.