India Emerges as Key Oil Buyer While Expanding Green Energy

India is expected to be the biggest driver of global oil demand growth in the coming years, even as it speeds up its shift to cleaner energy. At an energy meeting in Mumbai, experts discussed how trade changes and tensions around the world are shaping energy markets. Arnold Klann from S&P Global Commodity Insights said India would play a key role in global oil demand.

Premasish Das, an oil markets researcher, said oil demand could rise by 1.2 million barrels per day globally, but this might slow to 0.8 million barrels per day in 2025 due to trade problems and economic worries. Demand is falling in China and the U.S., especially for diesel and jet fuel. Meanwhile, India is still growing its oil imports. More supply from OPEC+ could keep oil prices from rising too much, with Brent crude expected to average $68 a barrel in 2025 and drop below $60 by year-end.

India has also cut its dependence on the Strait of Hormuz by buying more Russian oil. Rahul Kapoor, a shipping expert, said this made India’s oil imports more secure. On clean energy, India has reached over 200 GW of capacity and aims for 500 GW by 2030. Challenges remain, such as grid and finance issues, but private investment and new technologies are helping. Experts believe that by 2050, renewables will make up most new power capacity, and India’s non-fossil energy share could reach 77%. This shift will rely on not just technology, but also strong policies and global cooperation.