The forecasted primary energy supply in Saudi Arabia, expressed in million tonnes of oil equivalent (Mtoe), shows a slight but consistent decline from 2024 to 2028. In 2023, the supply stood at 225 Mtoe. By 2024, the supply drops to 224.59 Mtoe, demonstrating a steady downward trend over the forecast period.
Year-on-year, the values decrease progressively with minor variations:
- 2024 to 2025: -0.41%
- 2025 to 2026: -0.35%
- 2026 to 2027: -0.30%
- 2027 to 2028: -0.26%
The CAGR over the five-year period (2024-2028) reflects an average annual decline of approximately -0.30%.
Future trends to watch for include the potential impact of diversifying energy sources under Vision 2030, efforts toward renewable energy adoption, and global energy market fluctuations. Monitoring advancements in technology and infrastructure will be critical in understanding how Saudi Arabia might stabilize or reverse this downtrend.
