India's Diesel Demand Soars as Economy Booms, Set to Drive Global Oil Demand Growth

• India's fuel consumption rose 5.7% in February 2024 vs February 2023 • Diesel demand jumped over 6% driven by high factory activity and trucking • Diesel demand could hit a new record high of 2 million bpd in June • India's 2024-25 fuel demand forecast to grow 2.7% • India set to become world's top driver of oil demand growth before 2030