Sanctioning Russian oil would have led to a sharp surge in oil prices to above $80 per barrel levels, which would impact pump prices in the US ahead of midterm elections next year.
'Geopolitically and diplomatically it's a very difficult situation for India.'
It was a 'turbulent year' for global oil markets.
World is moving away from coal production, but it still forms a big part of power generation.
The increase in energy consumption was driven by renewables and natural gas, which together contributed three quarters of the expansion.
It is in coal consumption that India most diverges from the rest of the world
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances