In 2023, Malaysia's oil consumption stood at 1.68 Exajoules. From 2024 to 2028, the forecasted data indicates a continuous increase in oil consumption, with values rising from 1.7 Exajoules in 2024 to 1.79 Exajoules in 2028. Year-on-year variations reflect a steady growth pattern: a 1.76% increase from 2024 to 2025, a 1.16% rise from 2025 to 2026, followed by similar increases of around 1.14% for subsequent years. The Compound Annual Growth Rate (CAGR) over this five-year period averages approximately 1.30% per year.
Future trends to watch for include potential impacts of energy policy changes, advancements in renewable energy technologies, and shifts in global oil market dynamics. Additionally, trends in transportation, industrial activities, and economic growth will play significant roles in shaping Malaysia's oil consumption trajectory.