Page 2 - Oil Demand

India to surpass China in oil demand growth over next decade: Moody's

China drove global oil demand growth over the last decade, but now India is poised to take the lead in demand growth over the next decade, according to a latest report by Moody's Ratings. China and India are No. 2 and No.3 oil consumers in the world. But there are notable differences in demand growth in the two countries. "Demand growth and import reliance will be higher in India," Moody's said. "Demand will grow faster in India than in China over the next decade, as China's economic growth slows and penetration of new energy vehicles accelerates." Consumption of crude oil - the raw material for making fuels like petrol and diesel - in China will peak in the next 3-5 years, while in India Moody's expect annual growth of 3-5 per cent in the same period. Stating that both countries rely heavily on oil and gas imports, the rating agency said it expects China's reliance on oil imports to fall, reflecting slower demand growth and increased domestic production. "India's reliance on impo

China's oil demand to peak in 3-5 years, India's to grow steadily: Moody's

But Chinese production growth set to outpace India's due to investments in offshore and shale gas while Indian firms struggle with ageing wells and slower capital flows

OPEC sees India's oil demand rising 3.4% in 2025, double the pace of China

India's oil demand is expected to grow at the fastest pace among major economies and double the rate of rise in China in 2025 and 2026, oil cartel OPEC said in its latest global outlook. India's oil demand is projected to rise from 5.55 million barrels a day in 2024 to 5.74 million bpd in 2025, up 3.39 per cent, helped by rising energy needs in the world's fastest growing economy. This is projected to further rise to 5.99 million bpd in 2026, growing at 4.28 per cent. The demand growth is higher than 1.5 per cent expansion projected in China's oil demand in 2025 and 1.25 per cent in 2026. But in absolute terms, the US will continue to be the biggest oil consumer with a demand of 20.5 million bpd in 2025, followed by China (16.90 million bpd in 2025 and 17.12 million bpd in 2026). India is the third largest consumer. The US is likely to see 0.09 per cent growth in 2025 and 0.6 per cent in 2026. Despite slower growth, OPEC expects global oil demand to rise by 1.3 million bpd in bot

IEA sees global oil demand growth slowing to 650K bpd for rest of 2025

The IEA lifted its average demand growth forecast for 2025 as a whole to 740,000 bpd, up by 20,000 bpd from the previous report

Uncertain tides in oil: India's gains tempered by multiple export risks

Expectations of higher supply and lower demand were already visible in the price movements for crude oil over the past weeks

IEA cuts 2025 oil demand forecast amid trade tensions, economic uncertainty

Global oil demand expected to rise by 730,000 b/d in 2025, down from 940,000 b/d last year

India's spot oil demand dips as Russian supply nears normal levels

Most of the cargoes were booked at a discount of less than $3 a barrel to benchmarks, the people said

Escalating trade war threatens oil demand as Opec+ boosts supply, says IEA

Oil is trading near $71 a barrel in London after sinking to the lowest since 2021 last week, following Opec+'s decision to gradually restart halted production from April

Opec maintains global oil demand growth forecasts for year 2025, 2026

The Organization of the Petroleum Exporting Countries, in a monthly report, said world oil demand will rise by 1.45 million barrels per day (bpd) in 2025 and by 1.43 million bpd in 2026

Aramco CEO expects additional oil demand of 1.3 mn bpd this year

Oil demand this year will approach 106 million barrels per day after averaging about 104.6 million barrels per day in 2024, he said

China's oil demand fading faster than expected, posing risks for producers

Combine domestic refinery processing with net exports of gasoline, diesel and the like, and the consumption of petroleum is about 300,000 daily barrels lower than in 2023

Opec forecasts oil demand growth in 2026, lowers estimates for 2024

Opec, in a monthly report, said demand will rise by 1.43 million barrels per day in 2026, a similar rate to the growth of 1.45 million bpd expected this year

Reliance resume oil swap with Venezuela's PDVSA under US licence: Report

A supertanker carrying about 1.9 million barrels of Venezuelan Merey heavy crude departed earlier this month for India's Sikka port

Oil little changed as demand weakness offsets sanctions-driven supply risks

Weak demand, particularly in top importer China, and non-Opec+ supply growth were two factors behind the move

Markets Today: FIIs; Enviro Infra IPO; Dow, S&P at record; Oil & Gold slide

At 6:55 AM, GIFT Nifty futures were down 13.5 points, trading at 24,260, indicating a flat to negative start for the markets

Opec cuts forecast for 2024 oil demand growth, lowers projection for 2025

The Organization of the Petroleum Exporting Countries in a monthly report said world oil demand will rise by 1.82 million barrels per day in 2024, down from 1.93 million bpd it expected last month

IEA forecasts surplus oil supply, weak demand from China despite stimulus

China, which has accounted for more than 60 per cent of global oil demand growth in the last decade

OMCs set to invest over Rs 2 trillion to meet India's growing oil demands

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

Petroleum product exports shrink 14% in August as global demand cools

Exports in this category have decreased by nearly 3 per cent to 18.1 mt in the first five months of 2024-25, largely due to sluggish diesel exports

India to lead global oil demand growth in 2024, surpassing China: IEA

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