Signs of The Times

Oil demand: Consumption of crude oil will fall this year at the sharpest pace since 1981 because of the crisis afflicting world economies, the International Energy Agency said as it made new cuts to its forecasts. In its monthly survey, the agency said that it now expected global oil demand to fall by 3 per cent to 83.2 million barrels a day this year, 2.6 million barrels a day less than in 2008. - The Times

Oil consumption: The International Energy Agency said, in its monthly survey, that it expected global oil demand to fall by 3 per cent to 83.2 million barrels a day this year, 2.6 million barrels a day less than in 2008. - The Times

National Grid: The company, which distributes energy in the United Kingdom and the northeastern United States, said that it expected to increase its spending on the upgrade of Britain’s power network by two thirds, or £2 billion a year, within three years. - The Times

RWE: The German energy company said that its first-quarter net profits had more than doubled to €1.7 billion (£1.5 billion), compared with €809 million a year ago, as high prices on its electricity sales contracts offset a decline in demand amid the global economic downturn. Revenues were up by 8 per cent at €14.5 billion, from €13.4 billion a year ago. - The Times