No slowdown in oil demand growth

India’s increasing thirst for oil is unlikely to be blunted by planned gas use expansion or the energy transition

India is the world’s third‐largest consumer of energy, with a 5.7pc share of global primary energy use. The combination of a huge population, rising urbanisation, growing incomes and improving living standards for large numbers of people has seen energy use double since 2000. Nor is its appetite for oil set to moderate any time soon, despite rhetoric on a cleaner future energy mix Coal, petroleum products and solid biomass meet nearly 80pc of the country’s energy demand, with oil second only to coal. India is likely to remain among fastest-growing energy consumers in the coming years, and oil, as well as gas, will play a significant role in the country’s expanding energy mix in the short and