In 2023, Spain's oil consumption was 1.27 million barrels per day. Based on the forecasted data from 2024 to 2028, the oil consumption is expected to remain steady at 1.27 million barrels per day throughout this period, showing no year-on-year variation. This stability suggests a CAGR of 0% over the last five years, indicating no growth or decline in oil consumption.
Future trends to watch include potential shifts in energy policy towards renewable sources, which could impact oil consumption. Economic fluctuations and advancements in energy efficiency could also play significant roles in shaping future oil consumption trends.
