{"id":7380,"date":"2024-02-08T11:47:19","date_gmt":"2024-02-08T11:47:19","guid":{"rendered":"https:\/\/financeintellect.com\/home-page\/home\/?p=7380"},"modified":"2024-02-08T11:47:22","modified_gmt":"2024-02-08T11:47:22","slug":"india-to-surpass-china-in-becoming-largest-global-oil-demand-growth-driver-by-2030-iea","status":"publish","type":"post","link":"https:\/\/financeintellect.com\/home-page\/home\/india-to-surpass-china-in-becoming-largest-global-oil-demand-growth-driver-by-2030-iea\/","title":{"rendered":"India to surpass China in becoming largest global oil demand growth driver by 2030: IEA"},"content":{"rendered":"\n<p>Goa: India is expected to be the largest driver of Global Oil demand growth between 2023 and 2030, the <a href=\"https:\/\/www.iea.org\/\" target=\"_blank\" rel=\"noreferrer noopener\">International Energy Agency (IEA)<\/a> said here on Wednesday.<\/p>\n\n\n\n<p>In doing so, India would take over from China which is currently the largest driver of Global Oil demand.<\/p>\n\n\n\n<p>\u201cThe world\u2019s third-largest oil importer and consumer is on track to post an oil demand increase of almost 1.2 million barrels per day (bpd), thereby accounting for more than one-third of the projected 3.2 million bpd global gains,\u201d IEA said in a report released at the <a href=\"https:\/\/www.indiaenergyweek.com\/event\/2fe24000-628c-4f45-a85e-4e8ed44d433c\/summary\" target=\"_blank\" rel=\"noreferrer noopener\">India Energy Week <\/a>in Goa.<\/p>\n\n\n\n<p>The agency has forecast India\u2019s Oil demand would reach 6.6 million bpd in 2030, up from 5.5 million bpd in 2023.<\/p>\n\n\n\n<p>\u201cIndia will become the largest source of global oil demand growth between now and 2030, while the growth in developed economies and China slows initially and then subsequently goes into reverse in our outlook,\u201d the IEA report said.<\/p>\n\n\n\n<p>To meet this demand, India is expected to add one million bpd of new refining capacity over the seven years and this will increase its crude imports further to 5.8 million bpd by 2030, IEA added.<\/p>\n\n\n\n<p>Diesel will be India\u2019s single largest source of oil demand growth on the back of massive Industrial expansion, accounting for almost half of the rise in the national demand and more than one-sixth of the total global oil demand growth through to 2030,&nbsp;the&nbsp;IEA&nbsp;said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Goa: India is expected to be the largest driver of Global Oil demand growth between 2023 and 2030, the International Energy Agency (IEA) said here on Wednesday. In doing so, India would take over from China which is currently the largest driver of Global Oil demand. \u201cThe world\u2019s third-largest oil importer and consumer is on [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":7381,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1,8,31],"tags":[4529,4526,4528,4527],"class_list":["post-7380","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy-and-politics","category-india-inc","category-news","tag-global-oil","tag-iea","tag-india-energy-week","tag-international-energy-agency"],"aioseo_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - 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