In 2023, the closing stock of high sulphur fuel oil (≥1%) in the UK stood at approximately 53.00 thousand metric tons, serving as a baseline for understanding forecast trends. From 2024 through 2028, a downward trajectory is observed with forecasted values decreasing consistently year-on-year. Projected declines showcase significant reductions annually, registering steep percentages that reflect a notable contraction. Over five years, the compound annual growth rate (CAGR) indicates an accelerated reduction in stock levels, driven by advancing environmental regulations and shifts towards alternative energy sources.
Future trends to monitor include:
- The impact of regulatory changes on high sulphur fuel oil demand.
- Adoption rates of greener technologies by UK industries.
- Global crude oil market fluctuations influencing domestic stock levels.
