In 2023, the Domestic Extraction Used of Fossil Fuel in the UK stood at 73.45 million metric tons. Forecasted values show a declining trend from 69.89 million metric tons in 2024 to 53.99 million metric tons in 2028. This reflects a consistent reduction, with a year-on-year decrease of approximately 5-7%. The Compound Annual Growth Rate (CAGR) over this period indicates an average annual decline of 6.08%.
Future trends to watch for include:
- Impact of renewable energy initiatives and policies aimed at reducing fossil fuel dependency.
- Technological advancements in energy efficiency and alternative energy sources.
- Potential fluctuations in global fossil fuel demand and supply affecting domestic extraction levels.