Oil demand will rise by 3.21% in India outpacing China: OPEC

at 4:42 pm
oil barrels
Oil Barrels. File Photo

New Delhi (NVI): Oil demand in India will rise by 3.21 per cent to 4.88 million barrels per day (mb/d) in 2019 from 4.73 mb/d during the previous year, according to the OPEC report.

As per monthly oil market report published by OPEC in September, 2019, India’s oil demand will further rise to 5.05 mb/d by 2020 (3.36% year on year), outpacing China’s oil demand growth (2.37%), this was inform by the union minister for petroleum and natural gas Dharmendra Pradhan in a written reply to Rajya Sabha

The oil conservation measures to be taken at the end-users level, inter-alia, includes:

Reducing energy consumption through introduction of standard and labeling program for equipments using petro-based fuels such as domestic LPG Stoves, Diesel Irrigation Pump Sets & Diesel Generator Sets, training of drivers and organization of transport workshops and sensitizing farmers on petroleum conservation through KisanMelas, agriculture workshops etc.

The Inter- alia also includes carrying out energy audits, educating housewives on efficient use of domestic LPG and mass awareness activities through Saksham Campaigns, Social Media campaigns, campaigns on TV, Radio & Newspapers, literature, Exhibitions etc.