Indian oil-demand growth hits the road

Economic expansion and more drivers mean the country needs much more fuel

The International Energy Agency (IEA) expects India to drive global oil-demand growth between now and 2040, accounting for around a quarter of total consumption by then. The pace will accelerate next year, driven by surging passenger-vehicle sales and government initiatives to encourage use of cleaner cooking fuels. The country's total crude demand will rise by 400,000 barrels a day next year, reaching 4.8m b/d, according to consultancy Energy Aspects. This year, growth is expected to come in at 300,000 b/d. India consumed 4.1m b/d in 2015. The IEA is slightly less bullish, expecting around a 300,000 b/d rise both this and next year. Between April and August this year Indian oil-product cons