The oil consumption forecast for Argentina indicates a steady increase from 684.39 thousand barrels per day in 2024 to 697.19 thousand barrels per day by 2028. In 2023, the consumption was 681.00 thousand barrels per day, marking a slight increase from the previous year.
Year-on-year variations:
- 2024 vs 2023: +0.5%
- 2025 vs 2024: +0.5%
- 2026 vs 2025: +0.5%
- 2027 vs 2026: +0.46%
- 2028 vs 2027: +0.46%
Compound Annual Growth Rate (CAGR) from 2023 to 2028 stands at approximately 0.5%, illustrating a consistent trend of moderate growth in oil consumption.
Future trends to watch for include potential impacts of energy policy changes, technological advancements in renewable energy, and shifts in the global oil market that could influence Argentina's oil consumption patterns. Monitoring these factors will be essential for anticipating changes in the country’s energy needs.