India is projected to emerge as the single largest contributor to global energy demand growth through 2050, according to the World Oil Outlook 2025 presented by Abderrezak Benyoucef, Head of the Energy Studies Department, Research Division, Organization of the Petroleum Exporting Countries, at India Energy Week 2026 in Goa.
Presenting OPEC’s flagship long term outlook on the Resilience Stage on the second day of the event, Benyoucef said India alone is expected to add 8.2 million barrels per day of oil demand by 2050. The increase will be driven primarily by rising transportation needs, rapid growth in petrochemicals and sustained industrial expansion. At the global level, oil demand is projected to continue rising over the medium and long term, reaching nearly 123 million barrels per day by 2050, with demand growth concentrated overwhelmingly in non OECD regions.
The outlook positions India as the largest and most stable contributor to global primary energy demand growth over the coming decades. India’s total primary energy demand is projected to almost double, rising from around 22 million barrels of oil equivalent per day in 2024 to approximately 43.6 million barrels of oil equivalent per day by 2050. This expansion reflects the scale of India’s economic growth, urbanisation and improving living standards, alongside rising energy access and consumption.
Globally, primary energy demand is expected to increase by about 23 percent during the same period, growing from roughly 308 million barrels of oil equivalent per day to around 378 million barrels of oil equivalent per day by 2050. Non OECD countries are projected to account for nearly 72 percent of total global energy demand by the end of the outlook period, underlining a structural shift in energy consumption towards emerging and developing economies.
On the economic front, the outlook highlights India’s growing influence on global markets. India is expected to be the world’s fastest growing major economy, with average annual GDP growth of around 5.8 percent between 2024 and 2050. India’s share of global GDP is projected to rise sharply from about 8 percent in 2024 to nearly 17 percent by 2050, significantly amplifying its impact on global energy demand, trade and investment patterns. Overall global economic growth during the outlook period is expected to be driven primarily by non OECD economies.
Demographic trends are also expected to reinforce India’s central role in shaping future energy demand. As the world’s most populous country, India will continue to anchor global population growth and associated increases in energy consumption. Globally, the population is projected to rise by around 1.5 billion by 2050, with almost all growth occurring in non OECD countries, accompanied by accelerating urbanisation and rising incomes.
The World Oil Outlook underscores the critical need for sustained and timely investment across the energy value chain to meet rising demand and offset natural decline rates. Globally, cumulative oil related investment requirements are estimated at around 18.2 trillion dollars between 2025 and 2050, including nearly 15 trillion dollars in upstream investment alone. The outlook notes that oil and gas are expected to remain central to the global energy mix, working alongside renewables to meet future demand.
India Energy Week continues to serve as the country’s flagship global energy platform, bringing together policymakers, industry leaders and innovators to advance dialogue, investment and collaboration towards a secure, sustainable and affordable global energy future.
