The opening stock of oil products in France stood at 14.35 million metric tons in 2023. Over the past decade, the stock exhibited some fluctuations. From 2013 to 2018, the stock generally increased, peaking at 14.44 million metric tons in 2018. However, there was a slight decline from 2019 to 2020, before stabilizing around 14.35 to 14.36 million metric tons in subsequent years.
Year-on-year variations showed minor fluctuations with some sporadic increases and declines. For instance, the largest increase in recent years was seen in 2015 with a year-on-year rise of 2.83%. In contrast, the most significant drop was recorded in 2013 with a 4.7% decrease. Over the last two years, the stock has remained stable, with minor variations of around 0.083% in 2023 and a decrease of 0.15% in 2022.
The average annual growth rate over the last five years (CAGR) has been relatively stable at around -0.13%, indicating an overall steady trend with minor reductions.
Looking ahead, the forecast up to 2028 suggests a slow but steady increase in the opening stock, with the forecasted 5-year CAGR at 0.06% and an overall growth rate of 0.32%. This implies that while significant fluctuations are not expected, a modest, consistent rise in stock levels could be anticipated.
Future trends to watch for include:
- Geopolitical developments affecting oil supply and demand.
- Technological advancements in energy storage and alternative fuels.
- Policy changes related to environmental regulations and carbon neutrality goals.
