Consumption of oil fastest in India  

India has crossed China to become the largest contributor in incremental oil consumption in the year 2016

Jun 20, 2017 04:06 IST India Infoline News Service

According to BP Statistics, India has crossed China to become the largest contributor in incremental oil consumption in the year 2016, accounting for 21.8%.
 
As compared to vehicular fuels, industrial fuels contributed to the growth indicating a shift from coal to pet coke & improving economic activity.
 
India’s oil consumption jumped 8.3% to 212.7 million tonnes in the year 2016 as compared to a global growth of 1.5%, making India the 3rd largest oil consuming nation surpassing Japan in the previous year, accounting for approximately 4.8% of total consumption.
 
Growth in LPG, aviation turbine fuel, petroleum coke witnessed a 8-22% growth in Indian GDP, unlike petrol and diesel, which are the key growth drivers in other countries.

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