Tag: india crude oil import

India’s crude oil import bill falls, but import dependency hits new high

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India’s crude oil import bill falls, but import dependency hits new high

Data from the Oil Ministry showed that India paid $132.4 billion for oil imports in FY24. File | Photo Credit: Reuters India’s crude oil import dropped 16% in the fiscal year ended March 31 due to lower international rates, but the dependency on overseas suppliers rose to a new high, official data showed. India imported…

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India to overtake China as oil demand growth centre in 2027: IEA

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India to overtake China as oil demand growth centre in 2027: IEA

India is the third largest consumer of oil behind the US and China and this demand will increase despite the Government’s electric vehicle push. File | Photo Credit: MURALI KUMAR K India will overtake China as the biggest driver of global oil demand in 2027 as transportation and industry consumption in the world’s fastest-growing major…

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