Indian Crude Oil Imports

Can Indian Demand Replace Chinese Growth Slowdown?

A number of forecasters see in India a potential engine of global oil demand as Chinese demand growth has declined in recent years.  People are wondering whether India can take over China’s role as leader in oil demand growth.  Earlier in the year, the IEA forecasted Indian oil demand growth of 1.6 million barrel per day (Mb/d) (5.6% p.a.) in the period from 2016 to 2022, not far behind Chinese demand growth of 1.8 Mb/d (2.4% p.a.).

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