India is currently the third-largest global consumer of petroleum products after the United States and China. The country produces approximately 720,000 barrels of crude oil and 3.16 billion ft 3 of gas per day and imports more than 80% of its oil and 50% of its gas needs. This large discrepancy between domestic supply and consumption has been rising rapidly of late. With an economy growing at 6%–8% per year, India's energy demand growth over the next couple of decades is forecast to be among the highest in the world. To mitigate the heavy dependence on imported energy, India has stepped up efforts in recent years to increase domestic production of oil and gas.