Fossil fuel energy domestic extraction in Italy has shown a consistent downward trend from 2013 to 2023. In 2023, the extraction stood at 6.34 million metric tons, reflecting a significant 5.61% year-on-year decrease from 2022. Over the past two years, the drop in extraction has been notable with a cumulative reduction, while the Compound Annual Growth Rate (CAGR) over the last five years was -5.74%, indicating a steady decline in production.
From 2024 onwards, the forecast continues to show a declining trend, with an expected annual average decrease of 5.44% CAGR, resulting in a reduction by 24.39% over the five-year forecast period.
Future trends to watch for include the impact of energy policies targeting a shift towards renewable energy, technological advancements in extraction methods, and potential geopolitical influences on fossil fuel production and consumption in Italy. These factors could further influence the dynamics of domestic extraction levels.
