News in Brief
G20 ministers fail to agree on fossil fuels roadmap
AFP – Energy ministers from the group of 20 nations meeting in India Saturday failed to agree on a roadmap to phase down the use of fossil fuels in the global energy mix.
A final statement after the meeting did not even mention coal, a major contributor to global warming.
The failure to reach agreement in Goa comes despite G7 leaders agreeing in Hiroshima in May to “accelerate the phase-out of unabated fossil fuels” and with global temperatures hitting record highs, triggering floods, storms, and heatwaves.
IEA: Oil demand projections depend on China’s growth
REUTERS – The International Energy Agency (IEA) will revise its global oil demand growth projections based on the economic growth prospects of China and some other countries, its executive director Fatih Barol said on Saturday.
He reiterated the IEA’s view that oil markets are expected to tighten in the second half of the year.
ECB steps up scrutiny by asking banks to provide liquidity data
CNBC – The European Central Bank (ECB) has stepped up the scrutiny as it will ask the banks to provide liquidity data in a bid to ward off any risks of a financial crisis in the future.
“We decided to send banks, starting in September, a request for information on a weekly basis, in order to have more recent data to allow us to better monitor liquidity developments,” said Andrea Enria, the ECB supervisory chief.