Over the past decade, Finland's fuel oil refinery output has shown significant fluctuations. The period from 2013 to 2023 exhibits both growth and decline phases. Noteworthy increases were observed in 2015 (17.67%) and 2020 (9.7%), while steep declines were evident in 2014 (-7.9%) and 2021 (-23.89%). As of 2023, the output stood at 1.23 Million Tonnes of Oil Equivalent, reflecting a slight year-on-year decrease of -0.012%. The 5-year CAGR up to 2023 shows a consistent decline at -3.72%.
The forecasted data for 2024 through 2028 projects a stabilization of refinery output at 1.23 Million Tonnes of Oil Equivalent each year, with an anticipated modest decline in the 5-year CAGR at -0.01%.
Future trends to watch for include potential impacts of environmental regulations, advancements in renewable energy, and shifts in global oil demand that could affect Finland's refinery output. Monitoring these factors will be critical for anticipating further changes in the industry.
