Primary energy demand in India will more than double by 2045: Opec

India's primary energy demand will nearly more than double to 38.5 million barrels of oil equivalent per day (mboe/d) in 2045, the Organization of the Petroleum Exporting Countries (Opec) has said in its 2023 World Oil Outlook. However, it will remain half of China's 77.4 mboe/d.
 

Released on Monday, the annual report says global primary energy demand is set to increase from around 291 mboe/d in 2022 to close to 359 mboe/d in 2045, an increase of 68.3 mboe/d, or 23 percent over the outlook period. Of this, around 28 percent of the demand growth in non-OECD economies will originate in India, the report said. India's energy demand will also reach 10 per cent of global demand, up from 6.6 per cent currently.
 

 

Overall, energy demand is set to decline in Europe and stagnate in both Asia Pacific and Americas near current levels. As a result, energy demand growth will be driven by the non-OECD region, which is set to increase by 69 mboe/d over the outlook period. With average long-term growth of 6.1 percent per annum, India is expected to remain the fastest-growing major developing country. China and India alone are set to account for more than a third of the global economy in 2045.