Short-Term Energy Outlook
(Wed, 13 Nov 2024) Global oil consumption. India has emerged as the leading source of growth in global oil consumption in our forecast. Over 2024 and 2025, India accounts for 25% of total oil consumption growth globally. We expect an increase of 1.0 million barrels per day (b/d) in global consumption of liquid fuels in 2024. We expect even more growth next year, with global oil consumption rising by 1.2 million b/d.