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Phillip Capital forecasts India will drive global oil consumption growth due to its expanding economy and middle class.
Phillip Capital predicts that India will lead global oil consumption growth due to its economy expanding at over 6% annually and a growing middle class.
The International Energy Agency and OPEC estimate India's oil demand will rise by 1.3 to 1.8 million barrels per day by 2030.
Despite the rise of electric vehicles, global reliance on crude oil and natural gas will continue, with stable crude prices expected between $65 and $75 per barrel.
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Phillip Capital pronostica que India impulsará el crecimiento del consumo global de petróleo debido a su economía en expansión y clase media.