NEW DELHI: India’s demand for petroleum products like petrol and diesel will grow by 7.73 per cent in 2023, the fastest pace in the world, an OPEC report said.
India’s demand for oil products is projected to rise from 4.77 million barrels per day (bpd) in 2022 to 5.14 million bpd in 2023, OPEC said in its monthly oil report.
The growth in demand is the fastest in the world ahead of 1.23 per cent of China, 3.39 per cent of the US and 4.62 per cent of Europe.
For 2023, the Organisation of Petroleum Exporting Countries (OPEC) projected a growth of 4.67 per cent in India’s demand to 5.38 per cent.
This, however, will be lower than 4.86 per cent growth in China.
India is the world’s third largest oil importing and consuming nation behind the US and China.
This story is from the Delhi 18 August 2022 edition of Millennium Post Delhi.
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This story is from the Delhi 18 August 2022 edition of Millennium Post Delhi.
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