The forecast of fuel oil imports to the UK indicates a decreasing trend from 2024 through 2028. Starting at 638.57 thousand tonnes of oil equivalent in 2024, imports are expected to drop consistently each year, with a 2028 forecast of 527.15. This suggests a year-on-year decrease averaging approximately 4.6%. In 2023, the actual imports stood at 665 thousand tonnes of oil equivalent, highlighting a notable declining trend in subsequent years with a compound annual growth rate (CAGR) showcasing a downward trajectory.
Future trends to watch for include:
- Potential shifts in energy policy affecting import needs.
- Advancements in renewable energy affecting fuel oil demand.
- Global market fluctuations influencing the UK's import strategy.
