Oil Prices Bounce Back On Bullish News

While climbing Omicron cases have sparked fear of demand destruction, supply issues in Libya and falling U.S. oil inventories pushed prices higher.Chart of the Week- India needs to add 40 GW per year of renewable capacity to reach the 2030 objective it agreed to at the COP26 summit in Glasgow, but the country seems increasingly unlikelyto do so.- Renewables currently account for only 11% of India’s aggregate generation capacity, with coal - the country’s main source of energy - still having ample spare capacity. - With thermal…