Saudi Aramco says China India are especially driving oil demand despite economic headwinds - ForexLive
Saudi Aramco says China India are especially driving oil demand despite economic headwinds | Forexlive
Comments crossing news wire from the Saudi Aramco CEO:
- Oil markets fundamentals remain generally sound for rest of the year
- Developing countries, especially China and India, driving oil demand growth of more than 2mln barrels/day this year
- says China's transport and petrochemical sectors are still showing signs of growth despite economic headwinds
Related Knowledge Center: ENERGY BASICS: hydropower
Hydropower — electricity generated by turbines capturing energy from moving water — was for many years the primary contributor of renewable energy to the U.S. electricity grid. Its growth was rapid into the 1970s, and since then has offered a stable supply of power, while a declining share of all generation. For many years, hydropower was seen as clean energy and an unalloyed good, but a greater understanding of the impact of dams on ecosystems and wildlife has led to the removal of some dams. As of 2019, hydropower trails wind as a renewable source of power generation.