New Delhi: In the times of curtailment in consumption from almost all quarters in India, there is a piece of news about rise in consumption, exactly from where it should rather be stable or negative. India's oil demand, as per a report of OPEC will rise by 3.21 in 2019. That is, the oil demand will grow to 4.88 million barrels per day (mb/d) in 2019 from 4.73 mb/d during the previous year. Now if we talk about the year 2020, the OPEC report says, that India's oil demand will outpace China's growth of oil demand. India's oil demand will further rise to 5.05 mb/d by 2020 (3.36% year on year), outpacing China's oil demand growth (2.37%).
As the demand will rise, so will India's oil import bill.
Union Minister for Petroleum and Natural Gas Dharmendra Pradhan has informed the house that oil conservation measures to be taken at the end-user level. Oil conservation measures include: