India is set to become the leader in global oil demand growth. By 2030, India's demand will increase significantly. The country will add one million barrels per day. This growth is due to strong economic expansion. Global oil demand is expected to plateau by 2030. The IEA anticipates India to remain a fast-growing economy. Transport fuels will drive the demand



India is projected to lead global oil demand growth through 2030, adding about 1 million barrels per day more than any other country. Global oil demand is expected to rise by roughly 2.5 million bpd by 2030, reaching around 105.5 million bpd.

India’s oil consumption could increase from around 5.64 million bpd in 2024 to about 6.66 million bpd by 2030 driven by strong GDP growth, expanding industry, urbanisation and a growing middle class.

Diesel and gasoil are forecast to account for nearly half of the incremental demand while jet fuel and kerosene demand are expected to grow fastest in percentage terms at nearly 6% annually.

Gasoline demand will rise more modestly due to increasing electric vehicle adoption. India remains heavily import-dependent, sourcing over 95% of its oil needs from abroad prompting domestic refiners to invest in expanding capacity.

 This trend marks a structural shift in global oil demand with India becoming the key driver while consumption in developed countries and some other regions plateaus.

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