Oil Roars Back: India Fuels Global Demand Amidst Transition Hype & Geopolitical Shifts

• Oil demand resurges globally, with India becoming the primary driver, pushing 'peak oil' forecasts into the 2030s.
• Factors like policy delays, infrastructure challenges, and geopolitical tensions (Russia-Ukraine conflict) fueled oil's comeback.
• India's oil and gas sector saw evolving import dynamics, policy overhauls (Petroleum and Natural Gas Rules, 2025), and increased demand, solidifying its global influence.
• India maintained significant reliance on Russian crude despite US pressure, later diversifying supply with US imports and LNG/LPG trade.
• 2025 experienced unusual oil price stability (Brent $60s-$70s), attributed to diversified supply, disciplined OPEC+, and subdued demand in China/Europe, offering India respite.

Why It Matters: Oil makes a strong comeback, with India driving global demand amidst geopolitical shifts and stable prices.