Spain's crude oil energy supply fluctuated over the last decade, showing increases from 2013 to 2019, with an exception in 2015 and subsequent declines until 2020. A notable increase in supply occurred from 2021 through 2023. As of 2023, the supply stood at approximately 2.8345 million terajoules. Year-on-year changes indicated a recovery post-2020 with a 4.11% increase in 2023 over 2022. The 5-year CAGR till 2023 was -0.26%, reflecting a slight decline.
Looking forward, the forecast suggests steady increases, reaching 2.9398 million terajoules by 2028. The projected 5-year CAGR is 0.58%, indicating modest growth. Factors such as policy changes, advancements in alternative energy, and global oil market fluctuations could influence these future trends.
