India's Oil Demand Growth Amid Supply-Demand Imbalance and Geopolitics
The global crude oil market is experiencing significant shifts due to a mismatch in supply and demand, particularly as demand grows in Asia, notably in India, while supply increases primarily from the Americas. The forecast suggests that India’s oil demand will surge by 2 million barrels per day from 2024 to 2030, contrasting with declining demand from China. Geopolitical dynamics are also reshaping trade flows, with potential implications for pricing and supplier choices as nations navigate energy politics. This evolving landscape suggests that India, with its robust demand growth, may strategically leverage its position in the global oil market amidst these changes.