IEA: Oil Demand To Drop For First Time Since 2009
Global oil demand is set to drop this year for the first time since the financial crisis in 2009, the International Energy Agency (IEA) said on Monday, as it slashed Continue Reading
America’s Days as Net Oil Exporter Are Numbered Amid Price Rout – Bloomberg
America’s nascent status as a net petroleum exporter is already at risk as plunging oil prices threaten domestic production and give a leg-up to world’s biggest producers. The U.S. only in Continue Reading
Coronavirus Causes Unprecedented Oil Demand Destruction
The oil markets have been anticipating a big impact on oil demand from the coronavirus outbreak. That’s why we have seen a 30 percent drop in the price of crude Continue Reading
Global Fear of Flying Spawns Crisis for Airlines
The coronavirus has suddenly and unexpectedly created the biggest challenge for the global airline industry since 9/11. Bookings around the world are falling sharply. U.S. carriers are following Asian and Continue Reading
Tesla’s Success in Europe Catches Industry Off Guard
Until recently European auto executives regarded Tesla with something like bemusement. The electric car upstart from California was burning cash, struggling with production problems, and hedge funds were betting it Continue Reading
Global oil demand to plunge 2.5 mil b/d in Q1 on coronavirus, says IEA
Global oil demand is set to fall 2.5 million b/d in the first quarter compared with a year earlier due to the coronavirus outbreak , with the “call” on OPEC Continue Reading
MIIT verifies Xpeng P7 EV range of 706 km (439 miles) NEDC
China’s Ministry of Industry and Information Technology of China (MIIT) has verified Xpeng’s P7 electric sports sedan’s driving range to be NEDC 706 km (439 miles). It is the longest Continue Reading
GM Says Its Battery Is the Android-Style Antidote to Tesla’s iPhone
General Motors Co. has made close to $50 billion in adjusted net income over the past five years, while Tesla Inc. has lost close to $5 billion. Yet investors believe Elon Musk’s carmaker is the stock Continue Reading
EVolution: 11 keys to GM’s electrified future
From 2020 through 2025, GM plans to invest more than $20 billion—more than $3 billion annually, on average—toward electric-vehicle programs. And by the middle of the decade, the company aims Continue Reading
Oil traders warn of ‘zero growth’ in 2020 demand due to coronavirus
The coronavirus outbreak has led the world’s biggest oil traders to slash their projections for global demand growth to the weakest levels since the financial crisis, with many expecting consumption Continue Reading