The forecast for oil consumption in Indonesia shows a steady increase from 2024 to 2028, with values rising from 1.62 million barrels per day in 2024 to 1.69 million barrels per day in 2028. This represents a gradual year-on-year growth, with an average annual increase of approximately 1.08% over the forecast period. This steady growth indicates a consistent demand for oil in Indonesia, likely driven by economic growth, industrial development, and increasing vehicle ownership.
Looking ahead, key trends to watch include the impact of renewable energy adoption on oil consumption, government policies towards energy transition, and technological advancements in energy efficiency. These factors could influence the pace and nature of growth in oil consumption in Indonesia.
