Indian Oil Demand

After years of forecasts predicting an imminent peak in oil demand amid a swift shift to renewables, oil and gas made a quiet but unmistakable comeback, with India emerging as a central driver of global consumption. Major energy outlooks - from BP and McKinsey to the IEA - pushed peak oil into the 2030s and revised 2050 demand upward. And every forecaster said India will emerge as the epicentre of global demand growth, with its rise in appetite for energy outpacing that of China and Southeast Asia combined. The revival of the 'Oil is King' narrative in 2025 was fuelled by policy delays, infrastructure bottlenecks, and geopolitical tensions. European nations, long champions of the clean energy transition, leaned more heavily on fossil fuels as supply shortfalls and high prices persisted amid the ongoing Russia-Ukraine war. In the US, President Donald Trump's fossil-forward policies reinforced this trend. The result: oil was back on the centre board. India's oil and gas sector in 202

BP projects India's oil demand to grow 80% by 2050 even as renewables surge; coal to retain over 40% share in the energy mix under current trajectory

China and India - the region's leading crude importers - are key drivers of demand growth, as producers and traders navigate the impact of economic shifts, plus the spread of renewable energy

China had secured 15 Russian Urals cargoes for October-November delivery by the end of last week, said Richard Jones, a Singapore-based crude analyst at Energy Aspects

Crude oil markets are pricing in a fair amount of uncertainty at the current levels, Das said. That's why oil had dropped below $60 for a time-before the West Asia tensions pushed it back up

More ESPO was offered to India as Chinese state-owned companies continue shunning sanctioned crudes and crude quotas are running tight for Chinese independent refiners, analysts said

The purchase order for 10 tankers should come out as early as this month, the people said. Only ships built locally - even if there's foreign collaboration - will be considered for purchase

The sources said they understand that the new US sanctions would target more than 180 tankers shipping Russian oil and Russia-based maritime insurance service providers Ingosstrakh Insurance Company

The minister said there are "robust discussions" among state-owned and private refiners to scale beyond 310 mtpa, which might be achieved even before the targeted 2028

Projected capacity increases aim to address domestic energy needs and enhance global supply

Unrest in Bangladesh hasn't impacted Numaligarh refinery expansion, Indo-Bangla pipeline

Global oil demand is experiencing its slowest growth since 2020, primarily due to weak demand from China and a drop in Russia's global oil supply

Global oil demand will flatline till 2035 before falling, as Chinese demand slows

US consumer sentiment weakened in June to a seven-month low as inflation and income worries linger, a survey showed on Friday

India will overtake China as the biggest driver of global oil demand in 2027 as transportation and industry consumption in the world's fastest-growing major economy will drive growth despite a big push for clean energy and electrification, the International Energy Agency said on Wednesday. The Paris-based agency in a special Indian Oil Market Outlook to 2030 report released at the India Energy Week here, said the country's oil demand will rise from 5.48 million barrels per day in 2023 to 6.64 million bpd in 2030. China currently is the biggest driver of oil demand and India ranks No.2 in growth. The numbers given by IEA in the report seem to talk of crude oil processed into fuel for domestic as well as for exports. The domestic consumption as per the oil ministry data is around 5 million barrels per day (bpd). "India's oil demand will grow at a rapid pace by 2030 despite accelerated green energy moves," IEA director of energy markets and security Keisuke Sadamori said. "Growth in .

The agency forecast India's demand would reach 6.6 million bpd in 2030, up from 5.5 million bpd in 2023

Petrol and diesel sales in India slumped in December as setting in of winter tapered demand, preliminary data of state-owned firms showed on Monday. Petrol sales of the three state-owned firms, which control 90 per cent of the fuel market, fell 1.4 per cent to 2.72 million tonnes in December 2023 when compared to the year-ago period, while diesel demand dropped 7.8 per cent to 6.73 million tonnes. The onset of the winter season in northern India led to the tapering of air-conditioning demand. Month-on-month petrol sales dropped 4.9 per cent when compared to 2.86 million tonnes consumption in November. Diesel demand too was down 0.8 per cent month-on-month when compared to 6.79 million tonnes in November. Diesel is India's most consumed fuel, accounting for almost 40 per cent of all petroleum product consumption. Transport sector accounts for 70 per cent of all diesel sales in the country. Fuel consumption has been on a see-saw over the last couple of months. Demand for both petro

India spent $157.5 billion on importing 232.7 million tonnes of crude oil with West Asia contributing 58% of all supplies

Consumption will expand 150,000 barrels a day in 2024, down from about 290,000 barrels a day seen from 2021 to 2023, according to Rystad Energy Head of Oil Trading Mukesh Sahdev.

Sales of gasoline fell 5.3% to 2.99 million tonnes and sales of diesel decreased around 13% to 6.89 million tonnes in July from the previous month, the data showed