Before the end of this decade, the world’s third-largest crude oil importer, India, is set to become the single biggest driver of global oil demand, replacing China, analysts and forecasters say. India’s economy has grown at a robust pace over the past year. Meanwhile, growth in other major economies—including China—has sputtered. High GDP growth, industrialization, urbanization, and a rising number of middle class in India are all expected to shift the key oil demand growth driver from China onto India. …
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