India Could See Real Growth In Oil Demand Next Year

Next year is expected to be a turnaround for oil demand in India, according to a new study by S&P Global Platts Analytics. With weakened demand caused by an economic slowdown, a slump in new vehicle sales, and flooding during monsoon season, the growth number is expected to come in at a meagre 120,000 b/d in 2019. S&P Global Platts expects India’s oil demand to grow by 170,000 b/d next year. Economic growth is expected to pick up next year, as the Reserve Bank of India is cutting interest rates, which is also expected…