The crude oil energy supply in Turkey stood at 35.93 million tonnes of oil equivalent in 2023, reflecting a year-on-year growth of 1.04%. From 2013 to 2023, the supply showed significant fluctuations, with notable increases in 2015 and 2019. Despite a dip in 2018, the overall compound annual growth rate (CAGR) over the last five years was 7.26%. Forecasts predict a slower growth rate with a compound annual growth rate of 0.77% between 2024 and 2028, indicating a more stable but modest increase in crude oil energy supply.
Future trends to watch for:
- Potential policy changes affecting energy imports.
- Technological advancements improving domestic oil production.
- Global oil market volatility impacting pricing and supply.
- Transition towards renewable energy sources and its effect on crude oil demand.
