Severe droughts are drying up rivers and reservoirs vital for the production of zero-emissions hydropower in several countries around the globe, in some cases leading governments to rely more heavily on fossil fuels.
U.S. oil major Exxon Mobil Corp, along with Chevron Corp, is seeking to bulk up in the burgeoning renewable fuels space by finding ways to make such products at existing facilities, sources familiar with the efforts said.
U.S. investment bank Goldman Sachs lowered its oil demand forecast for China for the next two months, citing rising concerns over the impact of the next wave of COVID-19 infections.