A slowing Indian economy is a new headwind for oil prices. The country is the world’s third-biggest oil market, importing more than $100bn of the fuel in 2019. Before Covid-19, world oil consumption was around 100 million barrels per day (mbpd). That figure tumbled by 8.7mbpd last year, according to data from the International Energy Agency (IEA). The IEA thinks global demand will recover by 5.7mbpd this year, says Robert Perkins of S&P Global. The agency has raised its forecasts because of strong rebounds in China and the US.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
8 of the best properties for sale with communal gardensThe best properties for sale with access to communal gardens – from an apartment in a listed building opposite London’s Hyde Park, to a wing of a mansion with access to 180 acres of parkland in Henley-upon-Thames
-
The five insurance policies you should haveSome insurance cover will be more important than others. We look at five insurance policies you may need to have to make sure you aren’t caught out in an emergency
-
Why are energy bills so expensive in the UK?Electricity bills in the UK are higher than in any comparable rich country. Some blame the net-zero zealotry of the government for that. What is really to blame for high energy bills?
-
Solar investing: is it too risky?NextEnergy Solar Fund’s steep discount reflects doubts about high debts and the sustainability of its dividend. What does it mean for solar investors?
-
Why undersea cables are under threat – and how to protect themUndersea cables power the internet and are vital to modern economies. They are now vulnerable
-
Woodside Energy: an undervalued energy playWoodside Energy offers a cheap way to invest in the growth of the global LNG market. Should you invest?
-
How businesses can cut energy costs and boost efficiencyHere's how small businesses can monitor energy costs even though they don't benefit from the Ofgem energy price cap.
-
The nobbling of Britain’s nuclear energy sectorThe UK once led the world in atomic power, but now it’s a has-been. The malaise is due to the left’s opposition to the sector and decisions taken by the Blair government.
-
Look to space to fix the energy crisisSolar energy from space and a type of helium on the Moon look promising.
-
Is the market missing the opportunity in energy?
