Coronavirus impact: Fuel demand nearly halves in April as lockdown, travel curbs erode economic activity
Consumption of fuel, a proxy for oil demand, totalled 9.93 million tonnes-its lowest since 2007, government data showed on Saturday.
Oil bounces back as rising stockpiles seen pointing to lower output; coronavirus pandemic ravages demand
The figures followed a report from the International Energy Agency (IEA) that forecast oil demand would fall by 29 million barrels per day (bpd) in April, to the lowest in 25 years, and just below 30 percent of global demand before the coronavirus outbreak.
Evidence of coronavirus' effect on US economy grows more ominous, will shrink 7% in 2020, predict economists
Retail sales—a primary driver of the US economy—are almost surely suffering further during April because business shutdowns will have been in effect for the entire month, compared with just half of March
Oil crisis: Saudi Arabia, Russia fracas over production cut sends prices crashing; puts Africa's cash-strapped producers in peril
A three-year supply pact between the Organization of the Petroleum Exporting Countries (OPEC) and other oil producers, including Russia, fell apart this month after Moscow refused to support Riyadh’s plan for deeper production cuts,
Russia, Saudi Arabia play 'who-blinks-first' over crude price; scramble over market share gives Indian oil firms 'additional bargaining power'
The exacting decision by Riyadh to spike production was triggered by the failure on Friday to strike a deal with Russia on a new round of OPEC+ production cuts to arrest swooning oil prices owing to the novel coronavirus.
On the demand side, the International Energy Agency said oil demand was set to contract in 2020 for the first time since 2009.
Oil declines as market surplus forecast counters Libya worries; US crude output expected to rise to record highs in February
US oil fell 29 cents, or 0.5%, to $58.09 a barrel, having declined 0.3% the day before.
India’s oil demand growth is set to overtake China by mid-2020s, priming the country for more refinery investment but making it more vulnerable to supply disruption in the Middle East, the International Energy Agency (IEA) said on Friday
The IEA said, "the world urgently needs to put a laser-like focus on bringing down global emissions."
In UP and Bihar, a social venture involving electric rickshaws is providing eco-friendly livelihoods
A social enterprise, SMV Green Solutions, is helping people from low-income groups in Bihar and Uttar Pradesh to own and operate electric rickshaws.
As heatwave grips Europe, region takes to public places, fountains to battle harsh weather without using air conditioners
On Thursday, Paris recorded a temperature of 42.6 degrees Celsius, an all-time high, as people across northern Europe tried to battle a ferocious heatwave.
International Energy Agency praises Ujjwala scheme for providing free cooking gas connection to poor
Prime Minister Narendra Modi's signature Ujjwala scheme for providing free cooking gas connection to poor on Friday came in for praise from the International Energy Agency (IEA), which said it is a "major achievement" in improving the environment and health of women
Russia and Saudi Arabia have agreed to extend a deal to keep oil production low owing to abundant world supplies, President Vladimir Putin told reporters after the G20 Summit in Osaka.
Clean energy was one of the 17 sustainable development goals adopted by UN members to be completed by 2030.
In 2018, investment in oil & gas projects rose by 4% while investment in coal sources rose only by 2%.
The main drivers of this were a robust global economy & heating & cooling needs in some countries.
India still faces challenges to meet growing power demand; reliable supply of electricity low in the country: World Bank
With a growing population, rapid urbanisation and an economy that is expected to grow at an average of 7 percent per year, demand for electricity in India will almost triple between 2018 and 2040, the World Bank said
High oil prices hurt consumers, affect current account deficits of many countries: IEA chief Fatih Birol
The effect of high oil prices will be compounded in Southeast Asia as demand is rising fast but production is falling, resulting in the region becoming a net importer of oil, gas and coal, Birol said.
Narendra Modi warns of high crude oil prices hurting global economic growth; seeks review of payment terms
Prime Minister Narendra Modi on Monday warned oil producers like Saudi Arabia that high crude prices are hurting the global economy and sought a review of payment terms to provide a temporary relief to the local currency.
Oil price spike: Narendra Modi pitches for partnership between producers, consumers to reduce energy cost
Narendra Modi highlighted that the consuming countries, due to rising crude oil prices, face many other economic challenges including serious resource crunch. The cooperation of the oil producing countries would be very critical to bridge this gap.