Mumbai, Feb. 12 -- Organization of the Petroleum Exporting Countries or OPEC has stated in a monthly update that India's crude oil demand is seen rising at a steady pace. OPEC expects local oil demand at 5.6 million barrels per day (mbpd) in 2025 and expects it to hit 5.9 mbpd in this year though bulk of these gains will be driven by a spike in demand in last quarter of the year. It estimated 2027 oil demand at 6.1 mbpd. However, OPEC estimates India's crude oil production flat at around 0.8 mbpd for 2025-2027.

Published by HT Digital Content Services with permission from Capital Market....