India will overtake China in crude oil consumption

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Mumbai: The eyes of the world are now turning more towards India than China, seeing that it is expected that India will surpass China in terms of crude oil demand in the coming days.

While India has still overtaken China in terms of population, the need for development has also increased with the increase in consumption. However, the increase in the number of electric vehicles in China is one of the reasons for the decline in demand for its crude oil, an analyst said.

He also added that India will overtake China as the driving force of global demand anytime soon due to population growth.

India has already started playing a major role in the crude oil market after the Russia-Ukraine war and is becoming a consumer of Russian crude oil.

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