In the last few years, it was believed that due to the increasing use of renewables and EVs, global oil demand would soon reach its peak, but 2025 changed this perception.
Oil and gas have made a strong comeback and now India is emerging as the biggest driver of global energy growth. Agencies such as BP, McKinsey and IEA have postponed peak oil demand to the 2030s and have also extended demand estimates to 2050.
Due to Geopolitics, Russia-Ukraine war, fossil fuel-friendly policies and increasing energy needs, oil-gas still remains the backbone of the global economy, in which India’s role is most important.
