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India's surging oil consumption could boost tanker market

Within a few years, India will be the world's largest importer of oil, says Wood Mackenzie. But the country's refineries are far from able to handle the increasing consumption. This could lead to new gasoline trade.

Photo: Nabil al-Jurani/AP/Polfoto/Arkiv

India is about to overtake China's role as the world's largest importer of oil, says US analyst firm Wood Mackenzie, which in a new analysis says the country will take the top spot in 2024.

While there is a lot of focus on when global demand will peak, it seems that India's consumption and demand for oil will only increase sharply.

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