India is the growth factor of global oil consumption until 2025
reported by Mehr News Agency, According to the Energy Information Administration (EIA) Short-Term Energy Outlook report, India as the main source of global oil consumption growth in 2024 and 2025 Appeared this year, surpassing China took.
According to this new report, India is expected to account for 25% of the world’s energy consumption growth for 2024 and 2025. assign China’s oil consumption has increased more than India’s almost every year from 1998 to 2023, while China’s oil consumption has regularly grown more than any other country during these years.
In 2024 and 2025, India accounts for 25% of the total growth in oil consumption globally. It is also expected that the country’s global liquid fuel consumption will increase by 0.9 million barrels per day this year. With the increase in global oil consumption to 1.3 million barrels per day, the amount of consumption is expected to grow further next year.
Due to increased demand for transportation fuel and fuel for domestic cooking, liquid fuel consumption in India is projected to reach 220,000 barrels per day in 2024 and 330,000 barrels per day annually. 2025 to increase. This growth is more than any other country in the new report’s forecasts.
This report also predicts that the consumption of liquid fuel in China will grow to 90 thousand barrels per day in 2024 and increase to 250 thousand barrels per day in 2025.
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In China, the rapid expansion of electric vehicle ownership, increased use of liquefied natural gas for transportation, population decline, and economic growth have limited the growth of transportation fuel consumption. Most of the growth in China has been as a result of increasing the use of oil to produce petrochemical products.
Although India’s growth in terms of percentage and volume is higher than China’s, China still consumes significantly more oil. India’s total liquid fuel consumption in 2023 is 5.3 million barrels per day, while China based on estimates in December, over the same period. It has consumed three times this amount equal to 16.4 million barrels per day.
