Bloomberg The International Energy Agency (IEA) cut forecasts for oil demand this year and next because of growing threats to global economic growth, yet warned that dwindling spare oil supplies will keep prices high. Reduced growth estimates from the International Monetary Fund (IMF), trade disputes and the strain of high oil prices all fed into the downgrade to consumption, the …

Bloomberg India is seeking $1.5 billion of investments from global oil producers and traders to build additional emergency crude reserves that will act as a buffer against volatility in oil prices. The plan is to build underground caverns that can hold a combined 6.5 million tons of crude at two locations, Indian Strategic Petroleum Reserves Ltd. Chief Executive Officer H.P.S. …

Bloomberg Electric vehicles (EV) may be commonplace sooner than most people think, and that could signal a bonanza for Chilean lithium producer Soc. Quimica y Minera de Chile SA. Larrain Vial, Chile’s largest brokerage firm, sees global EV penetration at almost 21 percent by 2025, well above the market consensus of 8 percent to 20 percent, Alexander Varschavsky, a senior …