India passes China by the middle of the next decade as the country with the biggest appetite for oil and its refineries can’t keep up, Wood Mackenzie found. Economists at the Organization of Petroleum Exporting Countries expect the Chinese economy to grow by 6.6 percent this year. India’s economy is on pace to grow 7.3 percent this year and 7.4 percent for 2019. Sushant Gupta, a research director for consultant group Wood Mackenzie, said he expects India will pass China as the country with the largest demand for oil by 2024, accounting for about 30 percent of total oil demand growth. For domestic capacity, that growth is a problem. Refining capacity would need to maybe double in order to keep up […]