The crude oil energy supply in Belgium is forecasted to show a steady growth from 34.84 Million Tonnes Of Oil Equivalent (TOE) in 2024 to 35.72 Million TOE in 2028. This represents a year-on-year growth rate of roughly 0.63% from 2024 to 2025, 0.63% from 2025 to 2026, 0.63% from 2026 to 2027, and 0.62% from 2027 to 2028. The Compound Annual Growth Rate (CAGR) over the 5-year period from 2024 to 2028 is approximately 0.6%.
Considering the recent trend, it is useful to note that crude oil supply has shown modest but consistent growth. In 2023, the actual supply level stood as a base to forecast this future increase. The last two years have reflected stability, underpinning these incremental gains projected through 2028.
Future trends to watch for include potential technological advancements in energy efficiency, shifts towards alternative and renewable energy sources, and regulatory changes related to environmental impacts of fossil fuels. These factors could significantly alter the trajectory of crude oil energy supply in Belgium.
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