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“Additionally, robust growth in transport fuels, with strong expectations for manufacturing and growth in petrochemical feedstock requirements, is expected to support overall oil demand growth,” the report said. ‘Overall, in 2025, oil product demand in India is expected to grow by 188,000 bpd, year-on-year, to average 5.7 million bpd.”
In 2026, ongoing trade-related negotiations are expected to reduce currently announced tariffs, limiting the impact.
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