India’s Slowing Oil Demand Growth To Weigh On Oil Prices

India’s slowing oil demand growth will act as a drag on oil prices despite consumption recently hitting record highs, Reuters market analyst John Kemp has said.  India’s oil consumption grew by ~255,000 barrels per day (bpd) during the first seven months of the current year, helping to grow total consumption to 135 million metric tons in the first seven months of 2023 compared to 128 million metric tons for last year’s corresponding period. However, that growth clip was considerably slower than 415,000 bpd posted in 2021/22…