India’s refining capacity is projected to increase by 56 million tons by 2028, Junior Oil Minister Rameswar Teli said last month, without elaborating. That equates to an overall capacity boost of 22%, or 1.12 million barrels a day.

India recorded a peak electricity demand of 243 gigawatts last year, exceeding the power ministry’s projections of 229 gigawatts and prompting the ministry to push for more coal power. Maximum demand is expected to jump to 366 gigawatts by 2032.

Brent rose 29 cents, or 0.4%, to $83.84 a barrel, WTI gained 34 cents, or 0.4%, to $78.35 a barrel.

According to World Nuclear Association information, Russia produced 2508 tU in 2022, making it the sixth largest producer of uranium in the world, while Russian reactor requirements for 2023 were estimated at 6284 tU.

While global growth in electricity demand eased slightly to 2.2% in 2023 due to falling electricity consumption in advanced economies, it is projected to accelerate to an average of 3.4% from 2024 through to 2026.

Divided into four operational areas—NAIRR Open, NAIRR Secure, NAIRR Software, and NAIRR Classroom—the NAIRR pilot is bringing private sector, non-profit and philanthropic organizations, industry partners, and nine Federal agencies together to provide access to advanced computing, datasets, models, software, training, and user support to U.S. based researchers and educators.

Brent dipped 14 cents, or 0.1%, to $79.41 a barrel, WTI ticked down 11 cents, or 0.2%, to $74.26 a barrel.

Naphtha and fuel oil are loaded onto Clearocean Apollon Clyde Noble tankers at the nearby Ust-Luga Oil terminal.

In the last few months of 2023, the US ramped up enforcement of the price cap and imposed multiple rounds of sanctions on entities and ships that carried Russian crude oil above the price cap.

The survey found that, across the 20 countries surveyed, 28% of respondents oppose the use of nuclear energy while 46% support it. Of the 20 countries surveyed, 17 have net support for nuclear energy's use. Support was found to be more than three times higher than opposition in the world's two most populated countries, China and India.

Currently, about 15% of Britain's energy needs are met by nuclear power, a drop from 27% in the 1990s as older plants have been decommissioned and new ones are taking time to build.

Brent fell 9 cents, or 0.1%, to $78.47 a barrel, WTI inched up 11 cents to $73.52 a barrel.

The global oil demand growth forecast for 2024 remains unchanged at 2.2 mb/d, with the OECD growing by around 0.3 mb/d and the non-OECD by about 2.0 mb/d. The global oil demand growth in 2025 is expected to see a robust growth of 1.8 mb/d, y-o-y. The OECD is expected to grow by 0.1 mb/d, y-o-y, while demand in the non-OECD is forecast to increase by 1.7 mb/d.

Globally uranium demand is expected to rise by 28% by 2030 and to double by 2040.

Brent gained 28 cents to $78.16 a barrel , WTI rose 34 cents at $72.90.