The output of refined petroleum products and coke in Canada from 2013 to 2023 has seen significant fluctuations. The value stood at 61.32 Billion Canadian Dollars in 2023. A notable dip was observed between 2013 and 2016, with the most significant decline in 2015. However, a recovery phase started in 2017 and continued until 2018, followed by another dip in 2019. In 2020, the output fell sharply, likely influenced by global events, and gradually increased in the succeeding years. The last two years showcased slight increases in value, suggesting a stabilization phase.
Future trends to watch for:
- Watch for global economic conditions which can significantly impact the sector.
- Monitor advancements in alternative energy sources that might affect petroleum demand.
- Keep an eye on policy changes both domestically within Canada and internationally that could influence production levels.
- Technological advancements in refining processes could also impact future outputs.