Forecast: Fuel Oil Refinery Output in Spain

The fuel oil refinery output in Spain is forecasted to decline steadily from 2024 to 2028. From an actual output of 4.35 million tonnes of oil equivalent in 2023, it is expected to decrease to 4.04 in 2024, marking a 7.13% drop. The trend continues with outputs of 3.77 in 2025 (-6.68% YoY), 3.5 in 2026 (-7.17% YoY), 3.23 in 2027 (-7.71% YoY), and 2.96 in 2028 (-8.36% YoY). Over the five-year period, the compound annual growth rate (CAGR) stands at approximately -7.41%.

Future trends to watch for:

  • Changes in regulatory policies focused on reducing fossil fuel dependency.
  • Advancements in alternative energy sources that might further impact fuel oil demand.
  • Economic recovery and industrial activity levels post-2024.
  • Potential supply chain innovations or disruptions.

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