India is expected to emerge as the largest contributor to global oil demand growth by 2050, according to the World Oil Outlook 2025 presented by Dr. Abderrezak Benyoucef, Head of the Energy Studies Department at the Organization of the Petroleum Exporting Countries (OPEC). The outlook was unveiled during India Energy Week (IEW) 2026, being held in Goa from 27–30 January.
Presenting OPEC’s flagship long-term assessment, Dr. Benyoucef stated that India alone is projected to add 8.2 million barrels per day of oil demand by 2050, driven primarily by growth in transportation, petrochemicals, and industrial activity. At the global level, oil demand is expected to rise steadily, reaching nearly 123 million barrels per day by 2050, with most of the increase coming from non-OECD countries.
The report identifies India as the largest and most stable source of global primary energy demand growth. India’s total primary energy demand is projected to almost double—from around 22 million barrels of oil equivalent per day in 2024 to about 43.6 million by 2050. Globally, primary energy demand is expected to grow by 23 percent over the same period, with non-OECD nations accounting for nearly 72 percent of total demand by mid-century.
Strong economic growth will further reinforce India’s role in shaping global energy markets. According to the outlook, India is likely to be the fastest-growing major economy, with average annual GDP growth of around 5.8 percent between 2024 and 2050. India’s share of global GDP is projected to increase significantly, from 8 percent to 17 percent, amplifying its influence on global energy consumption patterns.
Demographic trends are also expected to support rising energy demand. As the world’s most populous nation, India will continue to anchor global population growth and expanding energy needs. Globally, the population is projected to grow by around 1.5 billion by 2050, largely in non-OECD countries, alongside increased urbanisation and improving living standards.
The Outlook highlights the need for sustained investment to meet future demand and offset natural production declines. Cumulative global oil-related investment requirements are estimated at USD 18.2 trillion between 2025 and 2050, including nearly USD 15 trillion in upstream investments.
India Energy Week is the country’s flagship global energy platform, bringing together policymakers, industry leaders, and innovators to advance a secure, sustainable, and affordable energy future, while fostering global collaboration and investment.
