Oil Demand

Focus likely to be on collecting seismic data in unexplored blocks

India's oil imports (in volume terms) have, in fact, been decelerating. Against an annual average growth rate of 10.8% during 2005-06 to 2009-10, crude oil imports grew 1.9% during 2020-21 to 2024-25

Last month, the Paris-based IEA oversaw the release of a record 400 million barrels from emergency oil reserves by members including the US, Japan and Germany in an effort to tame spiralling costs

Global oil demand is projected to average 105.07 million bpd in the second quarter, OPEC's report said, down from the 105.57 million bpd forecast in last month's report

JD Vance leaves Pakistan without a deal as US-Iran talks collapse, deepening uncertainty over ceasefire and escalating tensions in the Strait of Hormuz

Indian refiners, including Reliance Industries Ltd, Hindustan Petroleum Corp and Indian Oil Corp have purchased a combined 343,000 barrels a day for loading in March

Iran fired upon commercial ships on Wednesday and targeted Dubai International Airport, escalating a campaign of bottling up the oil-rich Persian Gulf as global energy concerns mounted and American and Israeli airstrikes pounded the Islamic Republic. Iran's response to the surprise Israeli and US bombardment that started 12 days ago has upended trade routes, choked supplies of fuel and fertiliser coming out of the Gulf and threatened air traffic through one of the world's most-travelled regions. Both sides have dug in, hoping to outlast the other. Iran's new supreme leader, Ayatollah Mojtaba Khamenei, was wounded at the start of the war - on the day when his father and predecessor, Ayatollah Ali Khamenei, was killed in an Israeli airstrike, an Israeli intelligence assessment has found. An Israeli intelligence official and a reservist with knowledge of the assessment spoke on condition of anonymity because they were not authorised to discuss the matter with the media. They gave no ..

Global inventories are expected to build by an average of 2.8 mbpd through the first half of the year, marking the largest surplus in recent memory

Despite multiple flashpoints during the year, oil prices struggled to sustain rallies, highlighting the market's growing sensitivity to excess supply

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

Forecasts from major energy bodies suggest a trend toward inventory builds and moderated prices, contingent on geopolitical stability and production policies

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

BP's annual energy outlook revises oil demand peak to 2030 at 103 mn bpd, citing India and emerging Asia as drivers even as renewables gain share in global energy mix

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

Like the EV surge in Gulf oil nations, it signals a rapid global shift to electric mobility, making OPEC's forecast of a 50% rise in developing nations' oil use by 2050 seem unrealistic

We have allowed these vulnerabilities to grow over the decades because of inaction

Major oil producers are pointing to signs of better economic growth in the second half of the year while data from China showed consistent growth

An official said main problem for India's petroleum sector, considering its lucrative geology less than that of countries in Africa and South America, was frequent changes in tax & incentive policies

The forecasts for demand in 2026 through 2029 are all lower than last year. Demand will average 106.3 million bpd in 2026, OPEC said, down from 108 million bpd seen last year

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