May 2021

The development follows the Indian and French governments signing the Industrial Way Forward Agreement on 10 March 2018 to enable cooperation between the two countries, thereby improving the energy sector and economies through knowledge and technology sharing.

The United Kingdom targets 65% of renewables in the power mix by 2030 (47% achieved in 2020).

Taiwan is expected to develop a total of 9 GW of offshore wind between 2026 and 2031 and 6 GW between 2032 and 2035.

The civil works contract is worth US$355m and full commissioning is scheduled in mid-2024.

Real gross domestic product (GDP) increased at an annual rate of 6.4 percent in the first quarter of 2021

The U.S. goods and services deficit was $74.4 billion in March, up $3.9 billion from $70.5 billion in February

Brent climbed 18 cents, or 0.3% to $68.73 a barrel. WTI rose 20 cents, or 0.3%, to $65.48.

EIA forecasts that Brent prices will average $65/b in the second quarter of 2021, $61/b during the second half of 2021, and $61/b in 2022.

"Under the current OPEC+ production scenario, supplies won't rise fast enough to keep pace with the expected demand recovery," the IEA said. "The widening supply and demand gap paves the way for a further easing of OPEC+ supply cuts or even sharper stock draws."

Libya pumped 1.12 million b/d in April, a fall of 70,000 b/d from March.