Between 2013 and 2023, the volume of crude oil transported by pipeline in the US exhibited fluctuations. The volume stood at 284.33 Billion Tonne Kilometers in 2013, rising to 458.22 Billion Tonne Kilometers by 2023. From 2013 to 2016, an upward trend was observed with year-on-year growth rates peaking in 2014 at 18.12%. However, the period between 2017 and 2019 saw smaller increases and a temporary decline in 2017. 2020 marked a significant downturn at -15.07%, largely due to disruptions such as the COVID-19 pandemic, followed by a recovery in 2021 at 17% and consistent growth thereafter. The most recent annual growth rate in 2023 was 2.04%, with a five-year CAGR of 2.23%.
Looking forward, the forecasted five-year CAGR from 2023 to 2028 is projected at 1.58%, predicting more stable yet moderate growth, accumulating to a volume of 504.88 Billion Tonne Kilometers by 2028. Future trends to watch include potential impacts from environmental policies, technological advancements in pipeline infrastructure, and shifts in global oil supply and demand dynamics.
