India's oil demand is forecast to grow to 500 million bpd by 2040: Indian Oil Corp - Reuters

Indian Oil Corporation Limited sees India's oil demand rising to 500 million tonnes per annum by 2040, according to Reuters News.

The state owned oil and gas company also expects India's refining capacity to increase to 439 mtpa by FY 2030, while domestic demand to increase to 356 mtpa by 2030.