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Oil demand expected to grow 4% annually over next decade
Orissa POST
|May 22, 2025
In 2025 so far, oil consumption in India stands at 4.8 million barrel per day, up 4.3% from the previous calendar year
India's domestic demand for oil is expected to increase at a CAGR (compound annual growth rate) of 4 per cent over the next decade, S&P Global Commodity Insights, a division of S&P Global, said Wednesday.
In 2025 so far, oil consumption in India stands at 4.8 million barrel per day (MBPD), up 4.3 per cent 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.
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