India and China are the world's two largest crude oil importers, making developments in global oil supplies and prices particularly significant for both economies
Ahead of the summit, discussions have focused on digital trade for micro, small and medium enterprises, development finance, and critical supply chains
The International Energy Agency (IEA) had previously expected global coal consumption to decline slightly this year
The latest increase followed fresh military action involving the US and Iran as well as attacks by Iran-backed Houthis on Saudi Arabia, adding to uncertainty over energy supplies from the region
Shipments from Asia, including India, are expected to total between 1.8 million and 2 million metric tonnes, equivalent to roughly 13.4 million to 14.9 million barrels, during August
The order covers the purchase, import and installation of specified foreign-made equipment, including transformers and other critical grid components
The assessment comes as energy markets contend with disruption around the Strait of Hormuz and the possibility of continued instability in the Red Sea
