From 2013 to 2020, Belgium's oil refinery capacity remained stable at 776.0 Thousand Barrels Per Day (MBPD). However, a significant decline began in 2021, with a 16.88% year-on-year decrease. By 2023, capacity stood at 609.0 MBPD, showing a further decline from the previous years. The five-year CAGR indicates an average annual decrease of approximately -4.73% over the last five years.

Looking ahead, forecasted data from 2024 indicates a continued reduction in refinery capacities, reaching 539.0 MBPD by 2028. This translates to an estimated average annual decrease of -1.73% over the next five years, suggesting a further contraction of 8.33% over the forecast period.

Future trends to watch for:

Impacts of environmental regulations on refinery operations
Investment in alternative energy sources and its effects on traditional refinery demand
Economic and geopolitical factors influencing oil supply and refinery operations