Vietnam's oil consumption in 2023 was 1.02 Exajoules. Compared to 2024's forecast of 1.03 Exajoules, there is a slight year-on-year increase of approximately 0.98%. From 2024 to 2025, oil consumption is projected to increase by 0.97%, stabilizing at 1.04 Exajoules annually from 2025 through 2028. This represents a flat growth rate of 0% during this period. Over the five-year forecast period from 2024 to 2028, the average annual growth rate (CAGR) is roughly 0.39%.
Future trends to watch for include the impact of Vietnam's economic growth on oil consumption, the shift to renewable energy sources, and policy changes regarding energy efficiency and carbon emissions. Monitoring these factors will be crucial for understanding the trajectory of oil demand in the coming years.
