Fuel oil refinery output in Norway shows a forecasted growth trend from 2024 to 2028. The values expressed in Thousand Gigawatthours increase steadily from 20.28 in 2024 to 21.15 in 2028. Comparing to 2023, which had an actual output of 20.10 Thousand Gigawatthours, this represents:
- 2024: 0.9% increase year-on-year
- 2025: 1.1% increase year-on-year
- 2026: 1.1% increase year-on-year
- 2027: 1.1% increase year-on-year
- 2028: 1% increase year-on-year
Over the last two years (2022-2023), there has been a stable trend, paving the way for a modest yet consistent growth forecast. The Compound Annual Growth Rate (CAGR) from 2024 to 2028 stands at approximately 1.04%.
Future Trends to Watch: It will be important to monitor the impact of global oil prices, advancements in alternative energy sources, and environmental regulations which could influence the demand or output of fuel oil refinement in Norway. Additionally, any shifts in domestic or international energy policies could either bolster or hinder the projected growth.
