New Delhi: India will become the largest source of global oil demand growth between now and 2030, surpassing China, the International Energy Agency said on Wednesday.
Urbanisation, industrialisation, the emergence of a wealthier middle-class keen on mobility and tourism, plus efforts to achieve greater access to clean cooking, will underpin the expansion of oil demand in the country, the Paris-based agency said in ‘Indian Oil Market Outlook to 2030’ report released at the India Energy Week in Goa.
As per the IEA estimate, India’s oil demand will rise to 6.64 million barrels per day in 2030 from 5.48 million barrels per day recorded in 2023.
