Maintaining Indian momentum
Energy demand is expected to pick up in the year ahead after faltering in 2017. EV sales will rise
India's stellar oil-demand story stumbled in 2017. Following record-high demand growth in 2015 (303,000 barrels a day) and 2016 (380,000 b/d), 2017 was much more variable, falling by 88,000 b/d in the first quarter, recovering to 153,000 b/d in the second, and witnessing the largest year-on-year drop since 2006 in August, before recovering in September (numbers from Energy Aspects). Barring widespread flooding in August, these included policy-induced shocks: the demonetisation of 86% of currency in late 2016 and introduction of a new Goods and Services Tax (GST) in mid-2017 hit business activity and consumption. Consequently, GDP-growth forecasts for 2017 and 2018 have been pared down by the
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
