IEA sees surge in oil demand from India
Surge in oil demand in India and other emerging nations will lead to reduction in global oil surplus in the first half of 2016, the International Energy Agency (IEA) on Thursday said. India’s oil demand in the first quarter of 2016 was 400,000 barrels per day higher year-on-year, accounting for nearly 30% of the global increase, the IEA added.