India’s oil demand growth is expected to exceed China’s for the first time in 2024, and continue in 2025. According to Kang Wu, global head of macro and oil demand research at SPGCI, India’s oil demand in the current year grew by 180,000 barrels per day, surpassing China’s growth at 148,000 bpd. India’s oil demand is expected to increase by 3.2% Y/Y in 2025 compared to a 1.7% clip by China. Over the past couple of decades, China has carried the lion’s share of global oil demand growth thanks to the country’s…
