• 4 minutes Europeans and Americans are beginning to see the results of depending on renewables.
  • 7 minutes Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing?
  • 13 minutes NordStream2
  • 1 day Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 5 hours California to ban gasoline for lawn mowers, chain saws, leaf blowers, off road equipment, etc.
  • 19 mins "Here is The Hidden $150 Trillion Agenda Behind The "Crusade" Against Climate Change" - Zero Hedge re: Bank of America REPORT
  • 6 hours "A Very Predictable Global Energy Crisis" by Irina Slav --- MUST READ
  • 9 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 5 hours An Indian Opinion on What is Going on in China
  • 1 day Two Good and Plausible Ideas about Saving Water and Redirecting it to Where it is Needed.
  • 10 hours Can Technology Keep Coal Plants Alive and Well?
  • 2 days Succession Planning in Human Resources for Vaccinated Individuals in the Oil & Gas Industry
  • 3 days Perfect Energy Storm in Europe: turning our back on fossil fuels is easier said than done!
  • 3 hours U.S. : Employers Can Buy Retirement Security for $2.64 an Hour
  • 8 hours Storage of gas cylinders
  • 4 days Nord Stream - US/German consultations
Ross McCracken

Ross McCracken

Ross is an energy analyst, writer and consultant who was previously the Managing Editor of Platts Energy Economist

More Info

Is India’s Oil Demand Being Underestimated?

Huge jumps of 8.2% and 9.5% in Indian oil demand in 2015 and 2016 led to growing expectations that India had reached a critical developmental ‘take off’ point. Rising incomes, motorisation, road building and a drive to expand manufacturing in a country of more than 1 billion people would replicate China’s multi-year boom with profound implications for global oil demand.

In the end, Indian oil demand proved relatively disappointing, growing by only 2.9% in 2017 and 4.1% in 2018, and the forecast exuberance was reigned in.

Nonetheless, the evolution of Indian oil demand remains a critical component of future oil demand growth. In its 2018 World Energy Outlook (WEO), the International Energy Agency (IEA) forecast that for the period 2017-2040, Indian oil demand will more than double from 4.4 million b/d to 9.1 million b/d, an increase of 4.7 million b/d. This represents 41% of global demand growth over the period. In comparison, China, which accounted for 43% of world oil demand growth from 2000-2017, will see much more modest growth of 3.5 million b/d from 2017-2040.

In the IEA forecast, India would take over as the engine of oil demand, but wouldn’t have quite such a profound impact as China did from 2000-2017.

However, China’s expansion was widely and wildly underestimated. The IEA’s 2002 WEO took an in-depth look at Chinese energy demand and forecast that Chinese oil consumption would rise from 5.0 million b/d to…




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News