Thailand’s oil consumption is projected to see a steady year-on-year increase from 2024 to 2028. Based on the forecasted data, the consumption values in Exajoules are: 2.45 in 2024, 2.49 in 2025, 2.52 in 2026, 2.55 in 2027, and 2.59 in 2028. Compared to the 2023 value of 2.42 Exajoules, the year-on-year percentage increases are:
- 2024: 1.24%
- 2025: 1.63%
- 2026: 1.20%
- 2027: 1.19%
- 2028: 1.57%
The Compound Annual Growth Rate (CAGR) over the five-year period (2024-2028) is projected to be approximately 1.37% per year.
Going forward, trends to watch include advancements in renewable energy sources, governmental policies on energy consumption, and potential changes in socioeconomic factors that could affect oil demand. Diversification into alternative energy and improvements in energy efficiency will be key to translating these forecasts into actionable insights.
