India's oil demand is growing by 5 percent annually - PM Modi

Omkar Godbole FXStreet Contributor

India's oil demand is rising 5 percent annually and is expected to double by 2040, Prime Minister Modi said on Monday, according to Reuters.

Key quotes (Source: Reuters)

Need responsible oil prices that balance the needs of buyers and producers.

India on its way to achieving COP 21 target.

India to add 200 million T of refining capacity by 2030.

Gas pipelines of 11,000 KM under construction.

BP, Shell, Exxon Mobile are looking to raise investment in India.

Converting buyer-seller oil relations into strategic partnerships.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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