*India’s oil demand surged by 6% sequentially to a record 5.29mn b/d for Q1 with crude imports up 15% at 5.23mn b/d, the second highest figure on record behind Q1 last year. India is the world’s number two seaborne crude importer behind China but ahead of the USA (more than half of Q1 US crude imports of 6.5mn b/d came overland from Canada).
*The IEA projects that India will be second only to China as a source of global oil demand growth for both 2024 and 2025 with growth of 180,000 b/d and 240,000 b/d respectively. (CONTINUED - 605 WORDS)
