India's oil demand growth will exceed China's in 2026

The growth rate of Indian oil demand will exceed that of China next year. While China's oil demand is stagnating at 8 million barrels per day, India's oil demand will rise from 1.2 million barrels per day in 2025 to 6.6 million barrels per day in 2030, according to the International Energy Agency. Some analysts believe that China is approaching peak oil and that Chinese oil demand could begin to decline as early as next year.