The next China?
Strong GDP growth, coupled with some reforms at home, could make India a new engine of global energy demand
Stepping up to take China’s place at the centre of global oil-demand growth is the rest of Asia, led by India’s ballooning economy. The world’s third-largest importer of crude could also become an important market for liquefied natural gas.The macroeconomic picture is a source of hope for a hard-pressed oil market. India’s GDP expanded 7.5% last year, faster than the 6.9% growth in China, according to official data. IHS Global Insight, a forecaster, predicts India’s economy will grow by an average of 7.6% every year until 2020, compared with an average 6.7% over the past five years. While markets remain focused on slowing Chinese end-product demand, Indian oil consumption also soared in 201
Also in this section
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
