The International Energy Agency said today that global oil demand will not peak in the near future and India’s vulnerability to high prices will increase with a surge in its crude oil imports. Oil demand will continue to grow stronger this year, at about 1.5 million barrels per day, driven by petrochemicals and other sectors, IEA Executive Director Fatih Birol said. “We are not going to see a peak in oil demand very soon. I am now worried that we don’t have enough investment to meet oil demand growth,” he told reporters on the sideline of the 16th International Energy Forum here. He said price spike is not good for anybody, especially India, where the economy is heavily dependent on oil imports. Very high prices are not good for oil producers either as it can create serious challenges for them, Birol said. “Indian oil imports will grow […]