India’s oil demand growth is set to overtake that of China’s by 2027, the International Energy Agency (IEA) said on Wednesday. Releasing a report on the Indian oil market outlook till 2030 during the India Energy Week, Toril Bosoni, head of markets at IEA, said India’s oil demand will reach 1.2 million barrels per day during 2023-2030. This will account for more than one-thirds of the projected global demand growth of 3.2 million barrels per day.
“India is forecast to be the single-largest source of global oil demand growth from 2023 to 2030, narrowly ahead of China. Underpinned by strong economic and demographic growth,
