In 2023, Vietnam's oil consumption stood at 23.90 million metric tons. Based on the forecast, consumption is projected to gradually increase to 24.01 million metric tons by 2028. This represents a steady yet minimal growth trend. The year-on-year variation shows near-stagnant values with minimal percentage increase, indicating a stable oil consumption trajectory.
Last 2 Years YoY Variations:
- 2024 vs 2023: +0.04%
- 2025 vs 2024: +0.17%
CAGR from 2023 to 2028:
Approximately +0.09% annually.
Future trends to watch for in Vietnam's oil consumption include potential shifts towards renewable energy, amendments in energy policy, and changes in industrial demand which might affect the gradual upward slope of oil consumption.
