Global energy costs to decline despite oil price rise: World Bank

Tokyo

GLOBAL energy costs in 2015 are likely to be almost 40 per cent below those of last year on average despite a recent sharp uptick in oil prices, the World Bank said on Wednesday in its latest Commodity Markets Outlook report.

China will be an important factor driving global demand for energy given the "rebalancing" of the world's second-largest economy, the report said, while India will be "a major factor shaping consumption of industrial commodities".