New Delhi, Oct. 17 -- Global oil demand is expected to rise by 2.4 million barrels per day (mb/d) in 2027, with India and other Asian economies emerging as key drivers of consumption growth, according to the Organization of the Petroleum Exporting Countries (OPEC).

In its statement to the International Monetary and Financial Committee during the IMF-World Bank Annual Meetings, OPEC projected global oil demand to average 108.2 mb/d in 2027, compared with 105.8 mb/d in 2026.

The anticipated increase would be supported by healthy economic activity, particularly in non-OECD (Organisation for Economic Co-operation and Development) economies, with transportation fuels and petrochemical feedstock expected to drive demand recovery.

"With India...