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India’s Oil Demand To Grow 4.7% In Next Fiscal Year

OIL

India's fuel demand, proxy for oil demand, is forecast to grow 4.7% in the next fiscal year starting on 1 April, initial government estimates show.

  • Oil demand is expected to rise to 233.8mn tonnes, up from 222.9mn tonnes estimated for 2022.
  • Domestic demand for gasoline is estimated to rise by 7.1% to 37.8mn tonnes. Gasoil demand is forecast to grow around 4.2$ o 90.6mn tonnes.

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