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Both oil benchmark contracts lost more than $1 per barrel on Wednesday, pressured by the rise in US crude inventories as refining dropped to its lowest levels since December 2022.
Global oil demand growth slowing as non-Opec supply expands, says IEA
PM Modi underscored that despite being home to 17 per cent of the world's population, India's carbon emissions account for only 4 per cent of the global total. "However, we are firmly committed to combating climate change," he said. The Prime Minister congratulated IEA for its 50th Anniversary and extended his gratitude to Ireland and France for co-chairing the meeting. "I am sure that the IEA will benefit when India plays a bigger role in it," he said.
Korea's industry ministry said Wednesday it has hosted a roundtable to promote its carbon-free vision with key partners on the margins of the International Energy Agency (IEA) meeting.
Prime Minister Modi mentioned India's commitment to becoming a net-zero economy by 2070 and leading initiatives like the International Solar Alliance, Mission LiFE, and the Global Biofuels Alliance. He thanked the International Energy Agency (IEA) for supporting these initiatives.