Oil consumption grows fastest in India

Oil consumption grows fastest in India

India has surpassed China to become the largest contribu tor to incremental oil consumption in 2016, accounting for 21.8 per cent of it, according to BP Statistics. In addition, industrial fuels contributed more to this growth than vehicular fuels, reflecting the shift to more efficient pet coke and away from coal and improving economic activity.

India’s oil consumption grew 8.3 per cent to 212.7 million tonnes in 2016 compared with global growth of 1.5 per cent, making it the third-largest oil consuming nation in the world after overtaking Japan in the previous year, accounting for nearly 4.8 per cent of total consumption. Read More…

 

Credit By : The Economics Times

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