Oil Demand Growth is Relentless - March 23

[dan_s]

India imported 88.2% of the crude it consumed in the April 2024-February 2025 period, according to oil ministry data reported by The Indian Express.

The import dependence has increased from 87.7% in the same period of the 2023/2024 fiscal year, the data showed.

The Indian import dependence in the full 2023/2024 fiscal year averaged 87.8%. As import and demand trends have shown in recent months, the 2024/2025 fiscal year will see an even higher – an all-time high – reliance on crude oil imports.

India last year surpassed China as the world’s largest oil demand driver, amid growing demand for fuel transportation in India and slowing gasoline and diesel demand in China due to the advance of electric vehicles and LNG-fueled trucks in the world’s top crude oil importer.

Read more: https://www.zerohedge.com/energy/indias-oil-import-dependence-hits-all-time-high