February 21, 2024

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The International Energy Agency (IEA) on Wednesday issued a projection of growth in global crude oil demand up to the year 2030. According to the IEA, the largest driver of this demand growth will be India, which will take over the spot previously occupied by China, the leading importer of oil. India, currently the world’s third-largest importer, is projected to increase its demand for oil by almost 1.2 million barrels a day between 2023 and 2030. Given that the total increase in crude oil demand in this period will be about 3.2 million barrels a day, India is basically expected

First Published: Feb 07 2024 | 9:34 PM IST