This statistic outlines the demand for oil in India from 2013 to 2017, with projections until 2040. It is projected that the demand for oil in India in 2030 will be about *** million barrels per day, which is double the demand for oil in 2013, at some *** million barrels per day.

Key information about India Oil Consumption

• India Oil Consumption was reported at 5,446.103 Barrel/Day th in Dec 2023
• This records an increase from the previous number of 5,208.699 Barrel/Day th for Dec 2022
• India Oil Consumption data is updated yearly, averaging 1,416.726 Barrel/Day th from Dec 1965 to 2023, with 59 observations
• The data reached an all-time high of 5,446.103 Barrel/Day th in 2023 and a record low of 252.234 Barrel/Day th in 1965
• India Oil Consumption data remains active status in CEIC and is reported by BP PLC
• The data is categorized under World Trend Plus’s Association: Energy Sector – Table RB.BP.OIL: Oil: Consumption

By 2029, global oil demand is forecast to reach 112.3 million barrels per day. China is expected to account for 18.4 million barrels of daily oil demand while India is expected to account for 6.9 million barrels worth.

OECD Americas is the region with the greatest oil demand, followed by China. In 2023, daily oil demand in the OECD Americas amounted to 25 million barrels. This figure is set to decrease to 21.5 million barrels by 2050, although it would remain the largest oil consuming region. India is forecast to see the greatest growth in daily oil demand, with figures expected to double by 2050.

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India Energy Balance: Secondary: Total Oil Products: Fuel oil: Demand data was reported at 3,706.361 Barrel th in Dec 2024. This records an increase from the previous number of 3,433.739 Barrel th for Nov 2024. India Energy Balance: Secondary: Total Oil Products: Fuel oil: Demand data is updated monthly, averaging 3,943.282 Barrel th from Jan 2002 (Median) to Dec 2024, with 276 observations. The data reached an all-time high of 8,340.935 Barrel th in Jan 2005 and a record low of 1,901.863 Barrel th in Apr 2020. India Energy Balance: Secondary: Total Oil Products: Fuel oil: Demand data remains active status in CEIC and is reported by Joint Organisations Data Initiative. The data is categorized under Global Database’s India – Table IN.JODI.WDB: Energy Balance: Oil. Heavy residual oil/boiler oil, including bunker oil; Demand of Finished Products only. Demand of finished products: Deliveries or sales to the inland market (domestic consumption) plus Refinery Fuel plus International Marine and Aviation Bunkers. Demand for Other oil products includes direct use of Crude oil, NGL, and Other.

India Petroleum: Consumption: Superior Kerosene Oil data was reported at 151.899 Metric Ton th in Mar 2020. This records a decrease from the previous number of 184.591 Metric Ton th for Feb 2020. India Petroleum: Consumption: Superior Kerosene Oil data is updated monthly, averaging 769.450 Metric Ton th from Apr 1998 (Median) to Mar 2020, with 264 observations. The data reached an all-time high of 1,128.396 Metric Ton th in May 1998 and a record low of 151.899 Metric Ton th in Mar 2020. India Petroleum: Consumption: Superior Kerosene Oil data remains active status in CEIC and is reported by Petroleum Planning & Analysis Cell . The data is categorized under India Premium Database’s Energy Sector – Table IN.RBH001: Petroleum: Consumption.

Projected oil demand in Asia-Pacific is the highest in the world, at 36.7 million barrels daily in 2020, followed closely by the Americas. Overall global oil consumption is expected to increase in 2020 and has been rising steadily throughout the past two decades.

Countries with high consumption

The United States consumes the most petroleum of any country in the world, and is the driving factor behind the Americas ranking as the region with second-highest petroleum consumption. Brazil and Canada are also among the ten largest petroleum consumers, but on a much smaller scale than the United States. China is the second-largest consumer in the world, followed by India and Japan, making Asia-Pacific the highest consuming region overall.

Largest oil importers

Though Europe consumes about half as much oil as Asia-Pacific or the Americas, the region is the largest importer of oil worldwide. As resources in the North Sea have depleted, oil production in the European Union has declined significantly over the past two decades. Among E.U. countries, Germany has the highest oil consumption.

This dataset contains India consumption of petroleum products from 2000-2021. Data from Ministry of Petroleum & Natural Gas, Government of India.NOTES:

i) All figures are provisional.ii) The source of information includes Oil Companies, DGCIS & online SEZ data.iii) The consumption estimates represent market demand and is aggregate of : (a) actual sales by oil companies in domestic market.(b) consumption through direct imports by private parties.(Private direct imports are prorated for Jul-Nov 2020, which may undergo change on receipt of actual data).(c) sales by SEZ units in Domestic Tariff Area (DTA).

India Base Oil demand stood at 3.52 Billion Litres in FY2021 and is forecast to reach 6.09 Billion Litres by FY2030, growing at a healthy CAGR of 6.28% until FY2030. Read all about the India Base Oil Market size, share, analysis, report, trends and forecast in a detailed report. India Base Oil Market Report by ChemAnalyst provides deep market insight that will help your business to grow.

India: Diesel and heating oil consumption, thousand barrels per day: The latest value from 2023 is 1829.17 thousand barrels per day, an increase from 1700.21 thousand barrels per day in 2022. In comparison, the world average is 145.86 thousand barrels per day, based on data from 190 countries. Historically, the average for India from 1980 to 2023 is 909.91 thousand barrels per day. The minimum value, 238.32 thousand barrels per day, was reached in 1980 while the maximum of 1829.17 thousand barrels per day was recorded in 2023.

The size of the India Oil and Gas Downstream Industry market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 2.50">> 2.50% during the forecast period. The downstream industry is normally associated with the refining, distribution, and marketing of various petroleum products. It is the very last link in the supply chain of oil and gas, which converts raw crude oil and natural gas into usable products such as gasoline, diesel, jet fuel, heating oil, and various petrochemicals. Refineries are central in these processes, where crude oil is subjected to distillation and chemical treatments to produce such end products. Distribution mainly deals with delivering finished products to wholesalers, retailers, and right to consumers. This section highly depends on infrastructure such as pipelines, tankers, and storages. Marketing is another vital area concerned with promoting and selling petroleum products through various outlets, such as petrol stations or bulk suppliers.The factors that influence the downstream industry are many, including crude oil price, regulatory policies, and technological advances, to name a few. From the perspective of environmental concern, especially, there is an upsurge in the focus on emissions reduction and energy efficiency. Innovations in refining processes and onboarding alternative fuels at an unprecedented rate are shaping the outlook of the industry. With the global energy dynamics gradually shifting toward sustainability, the challenge for the downstream industry is basically how it will heed this call without forgoing the global demand for energy. Key drivers for this market are: 4., Increasing Investments in Renewable Energy Generation 4.; Supportive Government Policies Towards Green Energy. Potential restraints include: 4., Challenges In Installing Renewable Power in the Circulated Structure. Notable trends are: Refineries to Dominate the Market.

The Indian Oil and Gas Industry offers a diverse range of products, including crude oil, refined petroleum products, natural gas, and petrochemicals. Crude oil is primarily used in refineries to produce gasoline, diesel, and other fuel products. Refined petroleum products are widely consumed in transportation, industrial, and residential sectors. Natural gas is gaining popularity as a cleaner fuel alternative and is used for power generation and industrial processes. Petrochemicals are used to manufacture plastics, fertilizers, and other essential products. Recent developments include: In March 2023, Indian Oil Corporation Ltd. announced that the company would invest USD 742 million in building a petrochemical complex at Paradip in the state of Odisha., In January 2022, Adani Total Gas Ltd (ATGL), a joint venture between the Adani Group and TotalEnergies, won licenses to expand its City Gas Distribution (CGD) network to 14 new geographical areas with an investment of USD 243 million.. Key drivers for this market are: 4., Increasing Investment in the Upstream Sector4.; Supportive Government Policies. Potential restraints include: 4., Increasing Demand to Diversify the Power Generation Mix by Introducing Renewable Energy Sources. Notable trends are: The Downstream Sector is Expected to Witness Significant Growth.

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India Petroleum Consumption: Furnace Oil: Industry data was reported at 2,492.000 Ton th in 2017. This records an increase from the previous number of 2,136.000 Ton th for 2016. India Petroleum Consumption: Furnace Oil: Industry data is updated yearly, averaging 2,977.000 Ton th from Mar 1985 (Median) to 2017, with 33 observations. The data reached an all-time high of 5,057.000 Ton th in 2002 and a record low of 1,562.000 Ton th in 2005. India Petroleum Consumption: Furnace Oil: Industry data remains active status in CEIC and is reported by Central Statistics Office. The data is categorized under Global Database’s India – Table IN.RBH004: Petroleum: Consumption: by Sectors.

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The consumption volume of petroleum products in India was approximately *** million metric tons in fiscal year 2024. The country was ranked third with regard to primary energy consumption across the globe. With the industry growing rapidly, inland production of petroleum products does not suffice. The import volume of petroleum products reached figures close to ** million metric tons during the fiscal year of 2024. Road ahead With the backing of robust economic growth and a booming automotive industry, the demand for petroleum products was anticipated to grow, as suggested by an annual growth rate of more than **** percent observed in the fiscal year 2024. With its rich resources and bold ambitions, the country is poised to become a global leader in clean energy, paving the way for transformative change worldwide and inspiring others to follow suit. Switching gears Rapid globalization and fast changing technology combined could salvage what is left of the depleting oil reserves. In a bright sunny country with ample sunlight hours, investments in solar energy and replacement of conventional vehicles with electric vehicles might hold the key to a sustainable future.

India consumed close to *** million metric tons of sunflower seed oil in marketing year 2024/2025. This was a decrease compared to the previous fiscal year. The south Asian country was the largest importer of this oil variety worldwide.