Oil production in India has witnessed a consistent decline over the past decade, standing at 32.29 Million Metric Tons in 2023. The year-on-year variation for 2023 was -2.21%, while the average annual decline (CAGR) over the last five years was -3.97%. The forecast suggests a continued decrease, with production expected to reach 30.33 Million Metric Tons by 2028, indicating a slight improvement in the rate of decline to a forecasted five-year CAGR of -0.88%. Future trends to watch include potential policy shifts, technological advancements in extraction, and investment in alternative energy sources that could impact production dynamics.
