How long before India becomes the most important driver of global oil demand growth?
As the world continues to navigate through evolving energy landscapes, we see India ascending as a key player in shaping the future of oil and vessel demand. The country’s rapid economic growth, burgeoning population, and ambitious development initiatives pave the way for increased energy consumption.
India’s appetite for energy could create new opportunities and challenges for the global energy sector. Our VLCC fixture data shows growth in activity into India over the last four quarters and the country remains an important destination for our segment, with January counts at 32 fixtures.
We continue to monitor this data closely to be ready for any opportunities that may arise from these developments, because one thing is for sure; there is no sign of a slowdown from a country boasting high GDP growth and a strong focus on industrialisation and urbanisation, that will ultimately drive oil demand growth.
Source: Tankers International VLCC Database
