NEW DELHI: India will remain hooked to oil for another quarter of a century, with demand seen more than doubling to 11 million barrels a day by 2045 in spite of the Narendra Modi government’s focus on faster transition to clean energy, leaving fuel consumers vulnerable to crude market volatility.
According to Opec World Oil Outlook 2021, the contribution of diesel and petrol to the country’s oil demand will rise from 51% to 58% through 2045 on the back of an expanding population, growing prosperity and rapid urbanization between 2020 and 2045.
The latest long-term market outlook from the grouping of oil exporters, which accounts for about 40% of global oil supply,
