Oil will return to a starring role in India

Platts Analytics expects India's oil demand in 2021 to recover to slightly above the level of 2019, with growth of 465,000 barrels per day in the year

Oil will return to a starring role in India. The car-centric society is set to see oil demand bounce back strongly in 2021 helped by fiscal stimulus as it leaves Covid-19 in its rear-view mirror. Any shift away from the fossil fuel towards cleaner energy will be slow going.

Oil’s importance to India’s needs is not necessarily a risk since energy security goes both ways. India is unabashedly reliant on oil and is a key buyer of crude from big suppliers like Saudi Arabia and Iraq, while the OPEC producers equally depend on India’s appetite for Middle East grades. The relationship