India becomes third largest oil consumer

Posted on:09 Jun 2016 11:55:16
India becomes third largest oil consumer
09 June 2016 Current Affairs: According to recently released BP Statistical Review of World Energy India has surpassed Japan to become the world’s third-largest oil consumer. With demand of 4.1 million barrels a day (bpd), India is the third-largest consumer behind the United States (19.39 million bpd) and China (11.96 million bpd).

India accounted for 4.5% of world oil consumption in 2015 and its oil demand galloped 8.1% in 2015. India’s oil demand growth had surpassed China’s 6.3 per cent expansion. The US oil consumption has grown by 1.6% in 2015 and it demand share accounts for 19.7% of the total world demand of 95 million bpd in 2015. Japan slipped to the fourth spot after its oil usage contracted 3.9% to 4.15 million bpd in 2015. 

In 2014, Japan had used 4.3 million bpd, ahead of India’s 3.84 million bpd. Oil remained the world’s leading fuel, accounting for 32.9% of global energy consumption. It is gaining market share for the first time since 1999. Coal is the second-largest fuel by market share (29.2%). 

Natural gas’ market share of primary energy consumption stood at 23.8%. In 2015, the global demand for primary energy grew only 1% which is significantly slower than the 10-year average. It reflected continued weakness in the global economy and lower growth in Chinese energy consumption as the country shifts from an industrial to a service-driven economy.

Monthly Current Affairs

Current Affairs Section

Daily Current Affairs Quiz

Subscribe to Current Affairs

Enter your email to get daily current affairs

Current Affairs November 2017

22 NOVEMBER
NEWS
21 NOVEMBER
NEWS
20 NOVEMBER
NEWS
19 NOVEMBER
NEWS

Current Affairs October 2017

31 OCTOBER
NEWS
30 OCTOBER
NEWS
29 OCTOBER
NEWS
28 OCTOBER
NEWS

Current Affairs September 2017

30 SEPTEMBER
NEWS
28 SEPTEMBER
NEWS
27 SEPTEMBER
NEWS
26 SEPTEMBER
NEWS