Sen Amrita & Sen Anupama

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In this new era of slower Chinese growth, a new contender has emerged: India, which in 2015 was the main driver of non-OECD oil demand growth. This paper argues that in addition to the boost from low oil prices, structural and policy-driven changes are underway which could result in India’s oil demand ‘taking off’ in a similar way to China’s during the late 1990s, when Chinese oil demand was at levels roughly equivalent to current Indian oil demand. This paper also examines the implications of a take-off in domestic demand for India’s recently acquired status as a net petroleum product exporter.

Available at: https://www.oxfordenergy.org/publications/indias-oil-demand/