India is projected to be the largest contributor to global oil demand growth through 2050, according to the World Oil Outlook 2025 released by Organization of the Petroleum Exporting Countries (OPEC). The outlook was presented recently by Dr Abderrezak Benyoucef, Head, Energy Studies Department, Research Division, OPEC, at India Energy Week 2026 in Goa.

Addressing the Resilience Stage on the second day of the event, Dr Benyoucef said India alone is expected to add 8.2 million barrels per day of oil demand by 2050, driven mainly by growth in transportation, petrochemicals and industrial activity. Globally, oil demand is projected to rise to nearly 123 million barrels per day by 2050, with most growth coming from non-OECD economies.

The report highlights India as the largest and most stable contributor to global primary energy demand growth. India’s total primary energy demand is expected to almost double from around 22 million barrels of oil equivalent per day in 2024 to about 43.6 million barrels of oil equivalent per day by 2050. Over the same period, global primary energy demand is projected to increase by 23 per cent, with non-OECD countries accounting for nearly 72 per cent of total demand by 2050.

On the economic front, the outlook notes that India is expected to be the world’s fastest-growing major economy, with average annual GDP growth of around 5.8 per cent between 2024 and 2050. India’s share of global GDP is projected to rise sharply, reinforcing its influence on global energy markets. Demographic trends, including population growth, urbanisation and improving living standards, are expected to further strengthen India’s central role in future energy demand.

The outlook also underlines the need for sustained investment to meet rising demand and offset natural decline rates. Globally, cumulative oil-related investment requirements are estimated at around USD 18.2 trillion between 2025 and 2050, including nearly USD 15 trillion in upstream investment.