Oil Demand May Grow 4% Annually Over a Decade: S&P

INDIA'S DOMESTIC DEMAND for oil is expected to increase at a CAGR (compound annual growth rate) of 4% over the next decade, S&P Global Commodity Insights, a division of S&P Global, said on Wednesday.

- PRESS TRUST OF INDIA

In 2025 so far, oil consumption in India stands at 4.8 million barrel per day (MBPD), up 4.3% from the previous calendar year. The country's crude oil demand is 5.4 MBPD this year.

The global oil prices have lost some shine in 2025 year-to-date on the back of a challenging demand environment exacerbated by supply growth from OPEC+ as well as beyond, Pulkit Agarwal, Head of India Content (Cross Commodities), said.