According to Dow Jones, Wood McKenzie said India’s oil demand increased by about 250,000 barrels a day last year, a situation that will repeat in 2019. According to the consulting firm’s forecast, if so, India’s oil demand will grow faster than China’s.
In 2018, India accounted for 14% of the increase in global oil demand. Transport fuels are the biggest factor contributing to the rise in oil use in India in the context of strong sales of commercial vehicles, as is the simplified sales tax structure in the country. In the upcoming national elections, the campaign will help boost demand this year.