In 2023, the volume of crude oil pipeline transport in the U.S. stood at an approximate value. Based on forecasted data for the years 2024-2028, there is a consistent upward trend in the volume of crude oil transported via pipelines. By 2024, this volume is projected to reach around 698.41 million metric tons, and is expected to progressively increase each year, reaching approximately 760.6 million metric tons by 2028.
The year-on-year percentage variations indicate a steady growth pattern:
- 2024 to 2025: An increase of roughly 2.3%
- 2025 to 2026: An increase of roughly 2.2%
- 2026 to 2027: An increase of roughly 2.1%
- 2027 to 2028: An increase of roughly 2%
The average compound annual growth rate (CAGR) of this period from 2024 to 2028 is around 2.15%, reflecting a steady yearly increase in crude oil pipeline transport volume.
Future trends to watch for include the impact of governmental policies on energy, infrastructural developments in pipeline construction, and shifts towards renewable energy sources which may affect long-term demand for crude oil transport.
