OPEC Report 2025: India’s Oil Demand Expected to Rise 3.39% to 5.74 Million Barrels Per Day.
International
In May 2025, the Organisation of the Petroleum Exporting Countries (OPEC), headquartered in Vienna, Austria, released its latest Monthly Oil Market Report (MOMR) for May 2025.
- The report forecasts that India’s oil demand will rise by 3.39%, increasing from 5.55 million barrels per day (bpd) in 2024 to 5.74 million bpd in 2025.
- This surge is driven by India’s growing energy requirements as one of the world’s fastest-growing economies.
- Further growth is expected, with demand projected to reach 5.99 million bpd in 2026, marking a 4.28% increase.
Main Point :- (i) India’s growth in oil demand is set to outpace China, which is projected to have a 1.5% increase in 2025 and 1.25% in 2026. Currently, India ranks third globally in absolute oil consumption, behind only the United States of America (USA) and China.
(ii) The USA remains the largest oil consumer worldwide, with an expected demand of 20.5 million bpd in 2025.
(iii) Global oil demand is anticipated to rise by 1.3 million bpd in both 2025 and 2026, consistent with OPEC’s previous forecasts.
About Organisation of the Petroleum Exporting Countries (OPEC)
Secretary General: Haitham Al Ghais
Headquarters: Vienna, Austria
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