India Crude Oil Demand Set to Surge 7% in 2027: OPEC Forecast

India's crude oil demand is expected to surge by 7% in 2027, according to the Organization of the Petroleum Exporting Countries (OPEC). The OPEC monthly update estimates that India's crude oil demand will reach 5.71 million barrels per day (mbpd) in 2026 and hit 6.11 mbpd in 2027.

Although the increase is substantial, it's worth noting that most of these gains are expected to come from a spike in demand in the last quarter of 2027. OPEC also estimates India's crude oil production will remain steady at 0.82 mbpd for 2026, unchanged on the year.

The forecast suggests that India's growing economy and increasing energy needs will drive the rise in demand. However, it remains to be seen how this will impact the country's imports and trade balance.