LPG cylinders at a godown near Amritsar, India
India taking pole position on oil demand growth
The country’s rapidly expanding economy is boosting its consumption of oil as demand for the fuel slows elsewhere in the world
As global oil demand growth slows and stabilises across much of the OECD and China, India is increasingly becoming the primary driver of additional demand. Strong economic growth, rising urbanisation, a growing middle class and a structurally expanding transport sector—along with a gradual shift towards new energy sources—are boosting the nation's oil consumption and altering global trade patterns. According to OPEC, oil demand in India will increase by 220,000b/d in 2026, compared with China’s growth of 200,000b/d. The IEA also noted that India will soon overtake China as the primary driver of global demand. It expects India to become the largest single contributor to global oil demand grow
Also in this section
16 April 2026
Demand for oil is falling because supply cannot meet it, not because it is no longer required
16 April 2026
The continent has an immediate opportunity to make the most of its energy resources by capturing gas that is currently slipping away
15 April 2026
The continent is seeing political pushback to climate plans, corporate reassessment of transition goals and rising supply risk in a fractured global order
15 April 2026
The Middle East energy crisis may turn out to be pivotal to the industry’s long-term expansion, but significant challenges still stand in its way
