India's natural gas consumption in 2024 will likely grow 5%-6% corresponding to an estimated economic growth of 6%-7%,

Demand for natural gas globally will then peak after 2040, although appetite for LNG will continue growing as China and developing Asian nations switch from dirtier coal to the comparatively cleaner fuel.

"Compared to the larger, conventional nuclear power plants, SMRs have several advantages — such as shorter construction time schedules, enhanced safety features and a sounder appeal to private investors thanks to their lower initial costs and shorter development timelines," the commission added.

Brent were down 9 cents, or 0.1%, to $82.77 a barrel, WTI rose 4 cent to $78.07 a barrel.

The global oil demand growth forecast for 2024 remains unchanged from last month’s assessment at 2.2 mb/d.

"Oil prices at $80 is extremely comfortable for Russia," she said. "Maybe at $60-$70 it starts feeling the pinch, but we cannot start talking about crisis if Russia is selling oil at $60 or above."

The European Commission on Thursday said Germany will be the biggest drag on euro zone growth this year and next, with growth of only 0.3% in 2024 rather than 0.8% expected in November and 1.2% in 2025, after a 0.3% recession last year.

Brent edged 1 cent lower $81.99 a barrel, WTI rose 1 cent to $76.93 a barrel.

Brent slipped 1 cent to $81.62 a barrel, WTI rose 3 cents to $76.25 a barrel.

Asian LNG re-exports have continued to outmatch reexports from Europe so far in 2024, maintaining Asia's stronger reexport trend that emerged in 2023,

Market players said the truck LNG price in China has continued to decline, with an average price of around Yuan 4,100/mt as of Feb. 7, marking a decrease of approximately 15% compared with the average price in 2023. Additionally, specific regional prices have dipped below Yuan 3,600/mt due to factory closures and reduced production during the festive season, sources said.

Russia is interested in “how scrupulously” German authorities will approach the investigation given Germany “has lost a lot due to this terrorist attack,” Kremlin spokesman Dmitry Peskov told reporters on Wednesday, when asked about Sweden’s decision, according to Interfax.

Industrial production fell in December by 1.6% compared with the previous month. Analysts polled by Reuters had predicted a 0.4% fall.

Brent rose 16 cents, or 0.2%, to $78.75 a barrel, WTI climbed 20 cents, or 0.3%, to $73.51.

Oil imports from Russia, negligible before Moscow’s invasion of Ukraine, climbed steadily through 2022 and the first half of last year as India saw an opportunity to procure discounted barrels. Russia overtook traditional suppliers like Iraq and Saudi Arabia.