India Takes the Lead in Oil Demand Growth

For a few years now, forecasters and market analysts have been expecting India to become the largest oil demand driver in the world in the medium and long term, surpassing China’s growth rates. This has now happened as early as this year, amid growing demand for fuel transportation in India and slowing gasoline and diesel demand in China due to the advance of electric vehicles and LNG-fueled trucks in the world’s top crude oil importer. India surpassing China as the world’s top driver of oil demand growth isn’t surprising…