Oil Demand To Rebound Despite Spike In COVID-19 Cases
US Oil inventories declined by 7.20 million barrels w/w OPEC+ compliance is said to have exceeded 100% in June Angola is said to be unable to compensate for its missed Continue Reading
US Oil Exports Can Compete at $30 Break-Even
Asian economies that appear to have a handle on the initial macroeconomic destruction caused by COVID-19 also happen to be prolific buyers of U.S. light sweet crude. The near-term economic Continue Reading
Crude Slips in the U.S. With Bleak Summer Demand Outlook
U.S. crude futures edged lower with investors concerned that lackluster demand through the summer months will weigh on the market’s recovery. As coronavirus infections rise across much of the U.S., major Continue Reading
Tesla’s Ambitious Plan To Ditch Cobalt
Lithium-ion batteries have proven to be a key link in global supply chains, placing these unassuming electronics at the crux of the future of electric vehicle markets around the world. Continue Reading
Oil demand to return to pre-pandemic levels by 2022
Analysts at Goldman Sachs expect global oil demand to return to pre-pandemic levels by 2022, citing a pick-up in commuting, a shift to private transportation and higher infrastructure spending. In Continue Reading
Is The UK Doing Enough To Stimulate EV Sales?
Sales of plug-in hybrids and battery electric cars in the UK inched up to 7 percent of total sales in the first quarter of the year, Reuters’ John Kemp wrote Continue Reading
Global flight passenger demand down 91% on year in May: IATA
Global flight passenger demand, measured in revenue passenger kilometers or RPK’s, contracted 91% on the year in May, after falling 94% in April, the International Air Transport Association said July Continue Reading
Demand Growth for Oil Products Has Peaked, Citigroup
Demand growth for refined oil products will never return to the levels it reached before the coronavirus outbreak, Citigroup said. As the global economy restarts, fewer people will fly and use their cars, Continue Reading
Global air freight demand slump slows in potential boost for jet fuel
The plunge in global air freight demand from the coronavirus pandemic slowed in May as capacity shrank, the International Air Transport Association said June 30, providing a potential boost to Continue Reading
Road trips rule as the US makes its 2020 summer vacation plans: AAA
Driving will be the preferred method of transportation for most vacationing Americans in 2020, making up 97% of all summer travel according to travel club AAA. – a development that Continue Reading
House Democrats Will Call for 100% Clean Cars by 2035
House Democrats on Tuesday will issue an ambitious plan to combat climate change, a move intended to reassure their base of supporters but that’s sure to inflame opponents on the Continue Reading
The Long Road To Oil Demand Recovery
Fuel demand in the United States has been gradually increasing in recent weeks, clawing back over half of the consumption lost during the first couple of weeks of lockdowns. Gasoline Continue Reading
Air carriers canceled 41% of U.S. flights in April
U.S. air carriers canceled a record 41% of scheduled flights in April even as carriers had scheduled a historic low number of flights in the face of the coronavirus pandemic Continue Reading
Delta will warn pilots about possible furloughs, offers early retirement
Delta Air Lines ( DAL.N ) said late on Friday it will soon send warning notices to about 2,500 pilots regarding possible furloughs at the airline, as the industry takes Continue Reading
Global energy demand could decline 6% in 2020 due to pandemic: IEA
Global energy demand is set to fall by 6% in 2020, the largest in 70 years, due to the coronavirus pandemic, an expert with the International Energy Agency said June Continue Reading
Demand for fossil fuels may not ever return to 2019 peak levels
New Analysis by Boston Consulting Group Reveals That the COVID-19 Crisis May Have Brought Forward an Expected Decline in Demand for Fossil Fuels by More Than a Decade, Making a Continue Reading
The Next Step In The Electric Vehicle Evolution
The electric vehicle revolution has turned out to be more of an evolution, with the industry making slow and steady progress. Despite this progress, the electric vehicle industry is still Continue Reading
US crude exports jumped back over 3 million b/d last week, exports to China remain strong
VLCC rates fall in recent weeks, contango easing US crude exports jumped back over 3 million b/d last week, for the first time in a month as exports to China Continue Reading
Oil Demand Could Return To Pre-COVID Levels In 2021
Russia’s Energy Minister believes crude oil demand could fully recover to pre-COVID levels by 2021 This statement came after the head of Russia’s sovereign wealth fund said there was no Continue Reading
The Death Of Car Ownership: The Trillion Dollar Trend Upending The Auto Industry
ESG investing isn’t just a fad anymore–it’s minting millionaires and billionaires. From Jeff Bezos’ $10-billion commitment to a Global Earth Fund to BlackRock, we’re now seeing major ESG assets under Continue Reading
What’s Holding Back A Full Recovery In Oil Demand
Odds of a V-shaped recovery in oil demand are shrinking. Demand for jet fuel will continue to drag on global oil demand for at least another two years. Permanent changes Continue Reading
EV Batteries Are About To Get Their Own Passports
The EV sector is looking to issue a ‘Battery Passport,’ which can be seen as a global quality seal and verification tool on a digital platform that will share value Continue Reading
Inside the Aviation Industry’s Toughest Battle Yet: Getting Back in the Skies
The global aviation industry is preparing to fly again. Heathrow Airport, one of the world’s biggest gateways, illustrates how hard that will be until governments decide how to allow overseas Continue Reading
US jet demand rises as coronavirus lockdowns ease
US jet production is rising to meet growing demand as cautious fliers return to the sky amid the loosening of coronavirus lockdown restrictions, government inventory data showed June 17. Receive Continue Reading
Oil Demand Recovery May Take a Couple of Years, IEA Says
Global oil demand will rebound next year as the world emerges from the coronavirus pandemic, but recovering to pre-crisis levels may take a couple of years, the International Energy Agency Continue Reading
Aviation crisis means oil demand to stay below pre-virus levels before 2022: IEA
Oil demand is recovering from the greatest fall in its history in 2020, the International Energy Agency (IEA) said on Tuesday, but less flying due to coronavirus fears means the Continue Reading
Business Travel Won’t Be Taking Off Soon Amid Coronavirus
Should you Zoom or FaceTime? How about a Houseparty? Amid social distancing, in-person events have been replaced by pixels on a screen. WSJ’s Nicole Nguyen offers tips for navigating the Continue Reading
U.S. to unveil voluntary self-driving testing data-sharing effort
U.S. auto safety regulators will unveil on Monday a voluntary effort to collect and make available nationwide data on existing autonomous vehicle testing. U.S. states have a variety of regulations Continue Reading
Texas Oil-Export Terminals Start Up Even as Shipments Tumble
Yet another Texas terminal is preparing to export oil, even as the pandemic continues to hammer global demand for U.S. crude. Buckeye Partners LP expects to start loading ships with oil for Continue Reading
Oil demand recovery under spotlight as lockdowns ease
Optimism over a swift and steady economic rebound from crushing pandemic lockdowns have helped global oil prices stage a dizzying rebound from near two-decade lows in April. Receive daily email Continue Reading
Volkswagen Delays Key Electric Car Launch Amid Software Troubles
Volkswagen AG said its flagship electric car model, the ID.3 hatchback, wouldn’t be delivered to customers until September, several months later than originally planned after software glitches delayed production. Volkswagen Continue Reading
Airline Industry Forecast to Suffer Record $84 Billion Loss
Airline losses are surging to unprecedented levels expected to be more than three times those following the 2008 global economic slump, according to the industry’s main trade group. The International Air Transport Continue Reading
As cruise industry prepares to sail, choppy waters are ahead
Some cruise lines are hoping to set sail later this summer but with images of coronavirus-ravaged ships still fresh in many minds, the industry could face years of choppy water Continue Reading
Tesla’s Newest Rival Is Taking The Stock Market By Storm
They are both named after inventor Nikola Tesla. They are both aiming to upend the market of predominantly gasoline and diesel-powered cars and trucks with their zero-emission technologies. And their Continue Reading
Coronavirus Downdraft Has Airports Scaling Back Renovation Plans
As New York city reopens Monday, California and some other states see coronavirus cases rise; a new poll reveals partisan divides over the pandemic; Brazil, a global hotspot for the Continue Reading
GM’s Barra Sees U.S. Transition to Electric Cars Taking Decades – Bloomberg
General Motors Co.’s top executive expects it will take decades for electric vehicles to take over as the dominant form of transportation but sees driverless cars on the road within Continue Reading
Global Oil Demand To Fall To Levels Not Seen Since 2014
Crude oil demand this year will fall to around 90.6 million bpd this year, OPEC’s secretary-general Mohammed Barkindo said ahead of the next OPEC+ meeting, as cited by Trend. This Continue Reading
U.S. airlines gain final approval to drop services to 75 domestic airports
Fifteen U.S. airlines were granted final government approval on Wednesday to temporarily halt service to 75 domestic airports as travel demand has been crushed due to the coronavirus pandemic. The Continue Reading
Global air freight demand posts steepest drop in April amid capacity crunch: IATA
Global air freight demand in April recorded its steepest drop ever as capacity crunch continued to plague the international cargo market due to coronavirus-related travel restrictions, the International Air Transport Continue Reading
China Is Trying to Salvage Its Bruised Electric-Car Industry
China is quietly reinforcing its car industry, pushing a range of support measures and levers to help salvage its world-leading push into electric vehicles. The coronavirus pandemic and oil-price slump Continue Reading
Electric Car Chargers Will Determine America’s Green Future
As long as there aren’t enough fast plugs in enough places, buyers and big automakers will stay away. View full article at www.bloomberg.com
Startup Presses Ahead With Pilot Projects to Electrify Roads
Electreon Wireless Ltd. is pressing ahead with projects to test its technology that allows electric cars to be charged while driving, potentially demonstrating a way to overcome a key barrier Continue Reading
Suncor: Energy Transition Will Destroy Oil Demand
Low-carbon technologies could disrupt global oil demand in the not-too-distant future the way COVID-19 crushed demand during the lockdowns worldwide, Mark Little, chief executive of one of Canada’s largest oil Continue Reading
Waterborne US Gulf Coast gasoline volumes up as Latin demand set to return
Although the amount of gasoline floating along the US Gulf Coast in tankers is rising, the volume of gasoline in floating storage is declining, pointing to increasing exports to Latin Continue Reading
VW preparing for mass-scale EV manufacturing:
Volkswagen is one of the few automakers already implementing its long-term electrification strategy and preparing for mass-scale electric vehicle manufacturing, despite the negative outlook for the auto industry due to Continue Reading
Oil Demand Expected to Fall 11.5 Percent
Global oil demand will decrease by 11.5 percent year on year, according to Rystad Energy’s latest demand forecast. Global oil demand will decrease by 11.5 percent, or 11.4 million barrels Continue Reading
IEA: Oil Demand to Soon Exceed Pre-Lockdown Level
Global oil consumption hasn’t peaked, the head of the International Energy Agency warned, throwing cold water on hopes the coronavirus will cap demand and reduce climate-changing emissions. “In the absence Continue Reading
Volkswagen intensifies e-mobility activities in China with additional €2B investment; JAC Volkswagen and battery-maker Gotion
Volkswagen plans to increase its share in JAC Volkswagen, its joint venture for e-mobility. Around €1 billion is to be invested. This amount includes the acquisition of 50% of JAG, Continue Reading
SUV Sales Exceed 40% Of Global Car Sales For The First Time
Sales of SUVs have been continuously rising not only in America but also around the world, to the point of exceeding 40 percent of all new car sales worldwide in Continue Reading
Volkswagen Pours More Than $2 Billion Into China’s Electric-Car Industry
Volkswagen AG is investing €1 billion ($1.11 billion) in a Chinese auto maker and a further €1.1 billion in a local battery producer, the company said Friday, in the latest Continue Reading