A slowdown in demand growth in India -- one of Asia's biggest diesel guzzlers -- could add to a persistent glut of diesel in the region, fuelled in part by strong exports from China, and put pressure on regional refining profit margins.
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OPEC said the world would need 29.27 million bpd of crude from its 14 members in 2020, down 1.34 million bpd this year.
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"OPEC and its allies are doing their best to support the market", said Tamas Varga, an analyst with PVM.
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Both oil benchmarks fell last week as concerns about a slowing global economy outweighed risks to supply. Brent fell more than 3% and WTI shed more than 1.5%.
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India wants to have 175 GW of renewable-based installed power capacity by 2022.
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The weakness in oil was offset slightly by the outlook for global supplies.
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Brent crude futures for September delivery were trading up 34 cents, or 0.5%, at $65.40 a barrel
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European banks have said they don't want to finance coal projects for a while, Japanese followed and now Singapore. About 85% of the market now don't want to finance coal power plants
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