IEA, OPEC will share insights on oil market during India Energy Week

Besides, India Energy Week will also witness sharing of market insights by the Organisation of the Petroleum Countries (OPEC).

Chief of IEA and OPEC are arriving in India to attend the second-largest energy event globally.

IEW 2025 is scheduled to take place from February 11-14 in New Delhi's Yashobhoomi.

On day two of IEW, there is a session on The World Oil Outlook (WOO), which is one of OPEC's flagship publications, combining the expertise of the OPEC Secretariat and professionals in OPEC Member countries.

The 18th edition of the WOO will likely examine developments in energy and oil demand, oil supply and refining, the global economy, policy and technology, demographic trends, environmental issues and sustainable development.

Other than OPEC Chief Haitham AL Ghais, OPEC Director, Research Division Ayed Al-Qahtani and Abderrezak Benyoucef Head, Energy Studies Department, Research Division OPEC will be also there to share their Insights on OPEC's commitment to knowledge-sharing and data transparency.

On the second day, a debate is being scheduled which will bring together influential and leading voices from the worlds of energy to debate their positions or views regarding some of the most pressing issues, complex questions and paradoxical challenges facing the energy world today.

Nobuo Tanaka, Executive Director Emeritus, International Energy Agency (IEA) will share his insights on India's energy demand.

Last year, at the second edition of India Energy Week 2024 in Goa, IEW released its report on 'Indian Oil Market Outlook to 2030'.

According to that IEA report, India will become the largest source of global oil demand growth between 2024 and 2030, while growth in developed economies and China initially slows and then subsequently goes into reverse.

It further added that India's role in global oil markets was expected to expand substantially over the remainder of the decade, fueled by strong growth in its economy, population and demographics.

According to the report, urbanisation, industrialisation, the emergence of a wealthier middle-class keen for mobility and tourism, plus efforts to achieve greater access to clean cooking, will underpin the expansion in oil demand.

Consequently, India is on track to post an increase of almost 1.2 million barrel per day, accounting for more than one-third of the projected 3.2 mb/d global gains, to reach 6.6 mb/d by 2030.

Further, the report found that massive industrial expansion means that diesel/gasoil is the single largest source of oil demand growth, accounting for almost half of the rise in the nation's demand and more than one-sixth of total global oil demand growth through to 2030.

The first major global event of the energy calendar, IEW 2025, is poised to be the most comprehensive and inclusive global energy gathering of the year. Since its inception in 2023, the India Energy Week has grown from strength to strength.

IEW 2025 has surpassed other international energy events. This year's edition marks a significant leap over its predecessor, showcasing elevated leadership participation and more dynamic discussions.

IEW 2025 incorporates seven key strategic themes (Collaboration, Resilience, Transition, Capacity, Digital Frontiers, Innovation, Leadership) with greater emphasis on pragmatic solutions for decarbonization, energy equity, and low-carbon economies.

The inclusion of 20 thematic categories this year, compared to 18 in 2024, highlights a broader focus on cutting-edge issues such as AI, digitalization, and maritime decarbonization.

The conference's structured stages--Resilience and Transition--align perfectly with India's dual goals of energy independence and decarbonization, ensuring relevance to global and national agendas alike. (ANI)