India to Lead Oil Consumption Bounce Back?

Over 50% of the world’s #crudeoil consumption is within 4 regions: USA, China, European Union and India. Prior to Covid-19, USA’s demand was almost flat, EU’s demand was falling but in India and China - the two most populus regions of the world, with 1.38 and 1.44 billion people respectively, - demand was increasing. With India’s oil consumption of 5 million barrel per day (Mbpd) at only 37% of Chinas consumption and Indian refinery capacity anticipated to grow by 28%, (and that excludes the 1.2 Mbpd Ratnagiri Refinery which is still on the drawing board ), over the next 2 years, will the anticipated increase in demand compensate for demand reductions elsewhere in the world?