In terms of global oil demand, some believe it. In future years, India may become the new leader in terms of economic growth. Some structural features hinder the development of electric vehicles in India. Thus, the oil demand is expected to remain strong in the next decade.
I think we need to redo some empirical analysis focusing on the India-US bilateral relation, and it influences on the oil market. We did it for the relation between US and China:
https://linkinghub.elsevier.com/retrieve/pii/S0140988322003498.
More from The Economist Intelligence Unit:
https://www.eiu.com/n/india-will-replace-china-as-the-driver-of-oil-demand-growth/