IHS Markit estimated Wednesday that world oil demand in Q1 will be 3.8 million barrels per day lower than a year earlier, marking the biggest quarterly drop ever and topping the previous record seen in Q1 2009, when demand fell by 3.6 million bpd. Source Investor’s Business Daily
“What is happening today in the energy markets of Europe is, to a certain extent, a man-made result of short-sighted policy,” the Russian President added Source TASS
India is facing an impending energy crisis as several states saw coal-fired power plants shut down due to a coal shortage. Major cities such as the capital New Delhi experienced electricity cuts that ran for hours over the weekend. Source DW
India is grappling with an escalating crisis as stockpiles of coal, the fuel used to generate about 70% of the nation’s electricity, dwindle to the lowest in years just as power demand is set to surge. Source EconomicTimes
