Made in India
Plans to increase the manufacturing base and sustain high GDP growth will underpin rising oil demand and imports
They can sell for as little as 49,700 rupees ($750), yet India's scooters, mopeds and motorbikes have become an unlikely barometer of global oil demand. And, according to the latest data, a 6.1% fall in the volume of sales of these two-wheelers led in January to a 2.5% fall in the country's domestic oil demand, the biggest drop in a decade. The unlikely culprit for this interruption in India's growing appetite for crude imports in 2017 is the lingering effect of the demonetisation that prime minister Narendra Modi introduced last November: the removal from circulation of some banknotes, designed to curb corruption, created a dearth of cash, mainly in rural areas. As Facts Global Energy (FGE)
Also in this section
20 January 2026
The ripple effects of US refiners switching to Venezuela grades will be felt from Canada to China and everywhere in between
20 January 2026
As the global energy system undergoes its most profound transformation in a century, the need for credible leadership, practical solutions and inclusive dialogue has never been greater. In 2026, the Kingdom of Saudi Arabia will stand at the centre of this conversation as host of the 25th WPC Energy Congress in Riyadh.
20 January 2026
The Kingdom of Saudi Arabia is the host of the 25th WPC Energy Congress on 26-30 April 2026. The Ministry of Energy spoke with Petroleum Economist about the key messages and opportunities for the global energy community.
19 January 2026
Newfound optimism is emerging that a dormant exploration frontier could become a strategic energy play and—whisper it quietly—Europe’s next offshore opportunity
