New Delhi Stock Exchange：It is expected that the growth of oil demand in India will slow down in 2024

As the rebound momentum after the Indian and Indian epidemic began to weaken, it is expected that the growth of oil demand for India next year will slow down.New Delhi Stock Exchange

Rystad Energy said that Mukesh Sahdev, director of its oil transaction, predicts that the increase in oil demand in India in 2024 will drop from 290,000 barrels to 150,000 barrels per day.Bloomberg pointed out in a report that this will make the demand growth rate from growing from 2011 to 2019.Guoabong Investment

India is the third largest oil consumer in the world and an growing country.Its economic growth is faster than the global average, and energy demand is faster than the world.Since last year, India has become the largest buyer of Russian oil in sanctions, and many of them have exported to Europe in the form of fuel, and Europe has imposed sanctions on Russia's oil.New Delhi Wealth Management

Analysts said that India's oil consumption currently has a record high, but as the economy has returned to normal, further growth will slow down.According to predictions, this will increase pressure on prices that have been affected by excess supply and weak demand.Nagpur Investment

Despite the prediction of slow growth in demand, India is still improving its oil refining capacity.Earlier this month, a deputy minister of the Ministry of Petroleum told the Indian Parliament that by 2028, the country should increase 1.12 million barrels per day on the basis of the existing total.Rameswar Teli said that India's total oil refining ability will increase by 22%from the current annual 254 million tons in five years, equivalent to about 5.8 million barrels per day.The Indian government predicts that the improvement of oil refining capabilities in the long run will "sufficient" to meet the country's fuel needs.(Xiao Chen Compilation)Agra Wealth Management

For more exciting content, stay tuned for our WeChat public account: Window of Smart Energy

Pune Investment