New Delhi: India was projected to lead global energy demand growth till 2050, according to the World Oil Outlook 2025 presented by the Organization of the Petroleum Exporting Countries at India Energy Week 2026.
Presenting the outlook in Goa, OPEC official Dr. Abderrezak Benyoucef said India would add 8.2 million barrels per day of oil demand by 2050. He heads the Energy Studies Department at OPEC. He said growth in transport, petrochemicals, and industry would drive the increase. Meanwhile, OPEC projected global oil demand to rise to nearly 123 million barrels per day by 2050. Most of that growth would come from non-OECD regions.
In addition, the outlook identified India as the most stable contributor to global primary energy demand growth. India’s total primary energy demand was expected to nearly double. It was projected to rise from around 22 million barrels of oil equivalent per day in 2024 to about 43.6 million barrels by 2050.
At the same time, global primary energy demand was projected to grow by 23 per cent. It was expected to increase from about 308 million barrels of oil equivalent per day to nearly 378 million barrels by 2050. Non-OECD countries were projected to account for nearly 72 per cent of total demand by then.
Economy and population trends drive energy demand growth
The report said India’s economic expansion would further strengthen energy demand growth. According to OECD projections cited in the outlook, India was expected to remain the world’s fastest-growing major economy. Average annual GDP growth was estimated at around 5.8 per cent between 2024 and 2050. As a result, India’s share of global GDP was projected to rise from about 8 per cent to 17 per cent during the same period.
Moreover, demographic trends were expected to reinforce India’s role in global energy demand growth. The report said India, already the world’s most populous country, would continue to anchor global population growth. Globally, population was projected to increase by around 1.5 billion by 2050. Almost all of this growth was expected in non-OECD countries, alongside rising urbanisation and living standards.
Finally, the outlook stressed the need for sustained investment to meet rising demand. It estimated cumulative global oil-related investment requirements at around USD 18.2 trillion between 2025 and 2050. This included nearly USD 15 trillion in upstream investment to offset natural decline rates and ensure long-term supply.
