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
Also in this section
4 March 2026
The US president has repeatedly promised to lower gasoline prices, but this ambition conflicts with his parallel aim to increase drilling and could be upended by his war against Iran
4 March 2026
With the Strait of Hormuz effectively closed following US-Israel strikes and Iran’s retaliatory escalation, Fujairah has become the region’s critical pressure release valve—and is now under serious threat
3 March 2026
The killing of Iran’s Supreme Leader Ayatollah Khamenei in US–Israeli strikes marks the most serious escalation in the region in decades and a bigger potential threat to the oil market than the start of the Russia-Ukraine crisis
2 March 2026
A potential blockade of the Strait of Hormuz following the escalating US-Iran conflict risks disrupting Qatari LNG exports that underpin global gas markets, exposing Asia and other markets to sharp price spikes, cargo shortages and renewed reliance on dirtier fuels
