The transport sector is the largest oil consumer in India
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
Also in this section
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
28 April 2026
Restoring supply from Saudi Arabia, the UAE, Kuwait, Qatar, Bahrain and Iraq involves complexities far beyond simply adjusting operational controls
28 April 2026
Datacentres will guzzle power at a ferocious rate, but the impact on wider energy markets will be far more complex than previously thought
28 April 2026
The key energy player faces balancing regional routes, political complexities, and creating a clear strategic vision for energy security
