The global oil demand forecast for 2020 is revised down by 0.3 mb/d. For 2021, oil demand growth is expected to grow by 6.2 mb/d, y-o-y, representing a downward revision of 0.3 mb/d compared to last month’s assessment.

OPEC+ alliance's current 7.7 million b/d in output cuts could be maintained into 2021 instead of being eased as originally planned, or even extended.

"If you look at it in terms of energy efficiency, nuclear energy is not the most efficient way of developing electricity. Solar energy probably offers better efficiency in the long-run, while in the short-run because of the depressed price of oil, countries are finding it more economic to just import oil."

Gazprom and Germany say Nord Stream 2 is purely a commercial project. Gas demand in Germany is growing as it cuts dependence on nuclear and coal power.

The government will spend 1.2 trillion rupees ($16.1 billion) on the latest stimulus program in addition to the 1.45 trillion rupees announced on Wednesday,

President Xi Jinping said China's carbon emission will peak by 2030 and it will attain carbon neutrality by 2060, and thus make a huge contribution to the global fight against climate change.

The government in the summer earmarked 7 billion euros ($8.25 billion) for the build-up of green hydrogen in Germany, plus a further 2 billion euros to set up partnerships with other countries.

I regard the strictly green position as irrational and counterproductive. It is an impediment to efforts to quickly slash carbon emissions and limit the effects of global warming.

Brent rose $1.17, or 2.7%, to $44.78 a barrel. WTI added $1.17 cents, or 2.8%, to $42.53 a barrel.

EIA forecasts Brent crude oil prices will average $47/b in 2021.

Annual investment in renewables would need to almost triple from an average of just below USD 300 billion in 2013-2018 to almost USD 800 billion through 2050.

In sharp contrast to all other fuels, renewables used for generating electricity will grow by almost 7% in 2020.

"India is set to nearly double its energy consumption over the long-term," Prime Minister Narendra Modi told the virtual forum. "Our energy sector will be growth-centric, industry friendly and environment-conscious."

Saudi Arabia, Iraq "stressed full commitment to all decisions that have been agreed upon, in a manner that guarantees reaching fair and appropriate oil prices for exporters and consumers in the global oil market," the statement said.

The average contract price for spot LNG cargoes shipped to Japan in October rose to $6 per million British thermal units (mmBtu)