The global demand for crude oil is expected to peak in 2030 at 112 million barrels per day, with India and Africa being major contributors, according to S&P Global Commodity Insights. The current global demand is at 103 million barrels per day. India and Africa are projected to drive an 8.73% increase in demand by 2030 due to increased industrial activities in the region, with growing use of clean cooking, automotive usage, and refinery setups in various economies.
