Oil has rallied since late June following pledges by OPEC+ countries Saudi Arabia and Russia to cut supply
The International Energy Agency says the rest of the world is going the way of the electric car, bringing peak oil demand before the end of the decade
World Meteorological Organization warns of average near-surface global temperature breaching the threshold between 2023 and 2027
OPEC cut forecasts for the amount of crude it will need to pump in the third quarter by 1.24 million barrels a day to 28.27 million a day
West Texas Intermediate declined toward $91 a barrel in early Asian trading
Crude has climbed more than 50 per cent this year
The US Federal Reserve raised interest rates by a quarter percentage point
Delta has raised concerns about the short-term demand outlook
While oil prices have recovered to $43 a barrel in London, from a two-decade low of $15.98 in late April, sentiment in the market remains fragile
As much as 60 billion tons of emissions, about twice what the world spewed out in 2019, could be prevented if money is spent in these new markets
Crude demand of about 100 million barrels a day prior to the pandemic plummeted by about 30 per cent last month