The volume of crude oil pipeline national transport in the US has exhibited varied year-on-year percentage changes from 2013 to 2023. In 2013, there was a significant increase of 17.87%, followed by another substantial growth of 20.04% in 2014. However, the pace of growth slowed down considerably in subsequent years, with fluctuations and a notable dip of -6.39% in 2016. The years 2020 and 2021 saw significant variations, with a sharp decline of -15.1% in 2020 followed by a strong rebound of 16.97% in 2021. By 2023, the volume stood at 342.09 Billion Tonne Kilometers, marking a moderate year-on-year increase of 2.02%.
When examining the Compound Annual Growth Rate (CAGR), which provides the average variation per year over the last five years, it becomes evident that the growth has been relatively modest, with a 2.2% from 2018 to 2023. This is reflective of both the sharp declines and subsequent recoveries observed in specific years during the period.
Looking ahead, the forecasted data from 2024 to 2028 suggests a continued but modest growth in the volume of crude oil pipeline national transport. The projected 5-year CAGR stands at 1.56%, translating to an overall growth rate of 8.07% by 2028, reaching 376.46 Billion Tonne Kilometers. This indicates a trend of stable and measured growth in the sector.
Future trends to watch for include potential impacts of regulatory changes, technological advancements in pipeline infrastructure, shifts in domestic oil production patterns, and global market dynamics, which could all influence the volume of crude oil pipeline transport in the coming years.
