Apart from being the top consumers of gold, India and China are set to lead the world’s oil demand in 2016, as their economies expand. The International Energy Agency (IEA) expects India’s oil needs to increase by about five million barrels a day by 2040, while in China the IEA sees growth of six million barrels of oil a day by 2040 — even though China has been slowing down over the past six months. While India and China fight it out as the leading drivers for the oil sector, demand from other developed Asian nations will probably decline. This is largely because due to technological developments that are leading to higher fuel efficiency levels, a focus on reducing carbon emissions, and lower world economic expansion. #MergentInc #industryreports #oilandgas #MergentInc #publiclibraries #academiclibraries #moodys #finance @MergentInc @FT @DnBUs @Hoovers @WSJ @WSJMarkets @INC @invstreams @DOWJONES @Chartoftheday @FordEquity @IntrinsicEquity
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