India is expected to be the largest contributor to the renewables upswing in 2021, with the country's annual additions doubling from 2020
At the same time, markets are set to receive fresh supplies in January as OPEC and its partners relax some of the measures they've taken to prevent a glut
The Paris-based IEA slashed its 2020 outlook by 140,000 bpd to 91.9 million bpd, its first downgrade in several months
Governments are easing restrictions put in place to curb the spread of the virus after the confinement of around 3 billion people brought the global economy to a near standstill
The IEA's forecasts see faster growth in demand for oil this year thanks to expectations that global growth will pick up as trade tensions diminish.
In its first in-depth review of India's energy policies, IEA said for the share of environment-friendly fuel to rise, the government needs to ensure gas is treated on a level playing field
Coal remains a major source of power across Southeast Asia, where breakneck economic development has spurred soaring energy demands -- but at a cost to the environment
The IEA said that under its Sustainable Development Scenario, global CO2 emissions would fall two thirds from 2018 by 2050, with net zero achieved in 2070.
After growth of 2.5% over the last 6 years, gas is facing competition from renewable energy and cheap coal
Surplus on the wane
To enhance cooperation in fields of energy forecasting and data.
IEA and NITI Aayog today signed a Statement of Intent on energy cooperationnd policy initiatives that apply to broader energy issues