OPEC Report 2025: India’s Oil Demand to Surge by 3.39% to 5.74 million bpd in 2025

Current Context: The OPEC Monthly Oil Market Report (MOMR) for May 2025, released by the Organization of the Petroleum Exporting Countries (OPEC) on May 17, 2025.

Key Highlights from the Report

• India’s oil demand is projected to grow 3.39%, reaching 5.74 million barrels per day (bpd) in 2025.
• India surpasses China in demand growth rate, becoming the fastest-growing major oil consumer.
• Global oil demand is expected to increase by 1.3 million bpd in both 2025 and 2026.
• India’s crude oil imports hit a record 5.4 million bpd in March 2025, with Russia (36%) as the leading supplier, followed by Iraq (17%) and Saudi Arabia (11%).
• The report cites economic expansion, transport growth, and petrochemical feedstock needs as key drivers of India’s rising oil consumption.

Question:

Q.1 Which country is the fastest-growing major oil consumer according to the May 2025 OPEC Monthly Oil Market Report (MOMR)?
a) United States
b) China
c) India
d) Brazil

Answer: c) India surpassed China in terms of oil demand growth rate, emerging as the fastest-growing major oil consumer globally due to transport and industrial sector growth.