Forecast: Oil Refinery Capacities in Spain

The oil refinery capacities in Spain demonstrated a stable trend from 2013 to 2023, maintaining values around 1.55 to 1.59 million barrels per day. The minor increases observed over the years, especially from 2019 onwards, highlight a slight positive growth with the year 2023 witnessing a value of 1.59 million barrels per day. The year-on-year variation in recent years shows minimal growth averaging around 0.025%. The five-year CAGR leading up to 2023 is approximately 0.29%, indicating a very modest growth rate over the longer term.

Looking ahead, the forecast suggests that oil refinery capacities in Spain will remain stable at 1.59 million barrels per day through 2028. The future trends to watch include technological advancements in refining processes, potential policy changes impacting the energy sector, and shifts towards renewable energy that could influence long-term capacity requirements and strategic investments in the oil refining infrastructure.

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