After China driving the initial demand growth, it is going to be India which will take the leading role in crude requirement, along with other Asian and African countries, as per an OPEC report.
According to the OPEC’s “World Oil Outlook 2045” report, released during the ongoing India Energy Week here on Tuesday, besides India, fairly robust growth during this period is also projected for African and other Asian countries where economic progress, urbanisation, industrialisation, and vehicle fleet expansion will be fastest among all regions.
This, the report said, “will result in respective demand increases of around 1.4 mb/d, 0.8 mb/d and 0.7 mb/d, for India, Africa and Other Asia respectively during the 2040-2045 period”.
