OPEC forecasts that India’s oil demand will rise by 0.06 million barrels per day (mb/d) in 2026, reaching an average consumption of 5.7 mb/d. This increase is driven by resilient economic growth and sustained demand for hydrocarbon fuels.
Consumption of gasoline and diesel is expected to stay high due to increased road mobility and growing vehicle sales. OPEC further anticipates that India’s oil demand growth will accelerate by 0.4 mb/d in 2027, underscoring the country’s growing significance for global oil demand.
Globally, OPEC has lowered its oil demand growth forecast for 2026, reflecting a cautious view of the energy market. Despite this, global oil demand is projected to rebound in 2027. India’s steady consumption growth remains a key factor in OPEC’s evaluation of global oil market trends and supply-demand conditions.
