UP records 49.3% polling in by-elections; exit polls predict BJP to win maximum seats
Minor reports of violence were received from Meerapur, Sismau, and Kundarki assembly segments, but by and large, the voting was peaceful, EC officials claimed.
The Paris-based International Energy Agency (IEA) has revised up global oil demand forecasts for 2021 and 2022.
The ongoing energy crisis has prompted a switch to oil, and therefore global oil demand is set to rise by 5.5 million barrels per day (mb/d) in 2021 and 3.3 mb/d in 2022, IEA said in its monthly Oil Market Report published on Thursday.
Global oil demand is expected to reach 96.3 mb/d in 2021 and 99.6 mb/d in 2022, IEA’s revised estimate shows.
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Record coal and gas prices, as well as rolling black-outs are prompting the power sector and energy-intensive industries to turn to oil, which has pushed up global oil demand, Xinhua news agency quoted the Agency as saying.
As for world oil supply, the IEA projected a sharp rise in October, with the US’ output set to bounce back from Hurricane Ida, and the Organization of the Petroleum Exporting Countries Plus (OPEC+) ready to boost output by 400,000 barrels per day for November this year.
Higher energy prices could lead to lower industrial activity and a slowdown in economic recovery from the Covid-19 pandemic, the IEA warned.
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