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As on : 12-Feb-2025
Economy - Reports
12-Feb-2025     13:50

India's oil demand set to grow by 300000 barrels per day in both 2025 and 2026

India's oil demand is set to grow by 300,000 barrels per day in both 2025 and 2026, according to the EIA. However, global oil inventories are expected to build up, bringing Brent crude prices down to $74 per barrel in 2025 and $66 in 2026. Non-OECD Asia, including China, will drive consumption, while non-OPEC+ countries lead supply growth. OPEC+ production cuts will help maintain price stability in early 2025, but long-term uncertainties like tariffs and Russian sanctions remain.

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