New Delhi, February 8, 2025: India’s oil demand is projected to peak later than other major economies, driven by robust industrial growth, urbanization, and rising energy needs, according to S&P Global Commodity Insights. The report emphasizes that while developed nations are rapidly transitioning to renewable energy, India’s energy shift will be more gradual due to its reliance on oil for economic expansion and increasing automobile usage.
S&P analysts noted that government initiatives promoting green energy and electric vehicles will impact oil demand over time, but the transition will be slower compared to advanced economies. India’s role as a significant oil importer is expected to persist, highlighting the importance of strategic investments in energy diversification and infrastructure to balance demand with sustainability goals.
