2024 Powerstroke Oil India. Consumption will expand 150,000 barrels a day in 2024, down from about 290,000 barrels a day seen from 2021 to 2023, according to rystad energy head of oil trading mukesh sahdev. India’s role in global oil markets is expected to expand substantially over the remainder of the decade, fuelled by strong growth in its economy, population and demographics.

According to the organization of the petroleum exporting countries (opec), india’s oil demand is projected to reach 5.59 million barrels per day (b/d) in 2024, reflecting a notable. In a monthly report, the iea projected that india’s oil product demand growth would slow to 2.5% next year from 4.1% in 2023.