Question
According to the Organization of the Petroleum Exporting
Countries (OPEC) in its 2023 World Oil Outlook, India's primary energy demand will nearly more than double to 38.5 million barrels of oil equivalent per day (mboe/d) in_________ .Solution
According to the Organization of the Petroleum Exporting Countries (OPEC) in its 2023 World Oil Outlook, India's primary energy demand will nearly more than double to 38.5 million barrels of oil equivalent per day (mboe/d) in 2045. However, it will remain half of China's 77.4 mboe/d. The annual report says global primary energy demand is set to increase from around 291 mboe/d in 2022 to close to 359 mboe/d in 2045, an increase of 68.3 mboe/d, or 23 percent over the outlook period. Of this, around 28 percent of the demand growth in non-OECD economies will originate in India. India's energy demand will also reach 10 per cent of global demand, up from 6.6 per cent currently. With average long-term growth of 6.1 percent per annum, India is expected to remain the fastest-growing major developing country. China and India alone are set to account for more than a third of the global economy in 2045.
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