Brent gained 80 cents, or 1.08%, to $74.70 a barrel, WTI gained 85 cents, or 1.21%, to $70.95.

Africa's oil and gas industry holds immense potential, with several countries emerging as key players in both production and future exploration.

The independent DEFRs do not require the availability of surplus renewable electricity. In fact, the independent DEFRs would not require the existence of intermittent renewable generation to support a reliable grid. They effectively render the renewable generators redundant; and, redundancy is expensive.

When you shackle the most cost effective and scalable source of energy, fossil fuels, and you subsidize unreliable solar and wind, that wouldn’t otherwise be competitive, energy necessarily becomes more expensive, less reliable and less secure. So again, it’s very simple.

Ultimately, an all-in-one Grid-Edge DERMS solution provides a lower-cost alternative to programs that are siloed, while also creating additional layers of complication for program managers and customers alike.

In a market characterized by increasing competition and volatility, investing in advanced analytics and machine learning technologies is essential for improving the buying (bids) and selling (offers) in the market.

The smart grid market is undergoing rapid transition. The power distribution utilities, technology providers and system integrators are exploring smarter ways to exercise choices in the use of distributed energy resources and take control of the electricity distribution systems.

Brent leapt $1, or 1.36%, to $74.56 a barrel, WTI spiked $1.07, or 1.53%, to $70.9.

Inner Mongolia, which leads China in coal production this year, already has 88 gigawatts of wind and solar capacity, with another 170 gigawatts in the pipeline. That’s a combined total that would dwarf the power fleet of Germany.

Amid the lower projections, the department said, "India remains the key export destination for Australian metallurgical coal along with Japan, with volumes remaining relatively stable for both."

Brent edged up 7 cents, or 0.1%, to $71.77 a barrel, WTI gained 8 cents, or 0.12%, to $68.25.

Global oil demand is now expected to grow by 0.9 to 1.2 million barrels per day (mbpd) in 2024, down from previous estimates of 1 to 1.3 mbpd, as per the poll.

"We can live through any price," Novak told Al Arabiya News in an interview published on Monday.

India’s Maharashtra Electricity Regulatory Commission (MERC) has authorised the Maharashtra State Electricity Distribution (MSEDCL) to procure an additional 5,991 MW of solar capacity through competitive bidding.

Brent increased 51 cents, or 0.71%, to $72.49 a barrel, WTI added 43 cents, or 0.63%, to $68.61 a barrel.