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Middle East News: Global oil demand growth is losing momentum, the International Energy Agency (IEA) said on Thursday as it trimmed its 2024 growth forecast in sharp contrast with projections by producer group Opec. ....
International Energy Agency, however, said the expansive post-pandemic growth phase in global oil demand has largely run its course as growth eased from 2.8 million bpd in Q3 of 2023 to 1.8 million bpd in Q4. ....
Both oil benchmark contracts lost more than $1 per barrel on Wednesday, pressured by the rise in US crude inventories as refining dropped to its lowest levels since December 2022. ....
PM Modi underscored that despite being home to 17 per cent of the world s population, India s carbon emissions account for only 4 per cent of the global total. "However, we are firmly committed to combating climate change," he said. The Prime Minister congratulated IEA for its 50th Anniversary and extended his gratitude to Ireland and France for co-chairing the meeting. "I am sure that the IEA will benefit when India plays a bigger role in it," he said. ....