In 2023, the closing inventories of petroleum refineries in Canada were recorded at 2.6246 billion Canadian dollars. Forecasted data indicates a gradual decline in inventories from 2024 to 2028, moving from 2.6049 billion CAD in 2024 to 2.5284 billion CAD by 2028. This represents a compound annual growth rate (CAGR) of -0.73% over five years.
Future trends to watch for include:
- The impact of global oil price fluctuations on inventory levels.
- Government policies on energy transition affecting refinery operations.
- Technological advancements in refining processes potentially altering inventory requirements.
