Portland, OR, Feb. 23, 2023 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the conventional oil market earned USD 2.5 trillion in 2021 and is estimated to generate USD 4.7 trillion by 2031, exhibiting a CAGR of 6.4% from 2022 to 2031. The report provides a comprehensive analysis of the changing dynamics of market, the main segments, the value chain, the competitive scenario and the regional panorama. . This research provides valuable guidance to major players, investors, shareholders and startups to design strategies for sustainable growth and gain a competitive edge in the market. Request the…
Author: Automotivedealernews.com
Millions of barrels of Russian crude and fuel have been swapped between tankers a few miles off the coast of Greece, one of a number of solutions traders have used to get around European Union sanctions against Moscow. At least 23 million barrels of Russian crude and additional volumes of refined fuels have been transferred from one tanker to another in Lakonikos Bay since the start of the year, according to Bloomberg tanker tracking. Greek authorities say their scope to intervene is limited because the activity takes place outside a six-mile limit in the country’s territorial waters in the area.…
Summary Falling used car prices are driving deflation. However, new cars have become unaffordable for many Americans, which has increased the demand for used cars. The relationship between used and new car prices has stabilized well above pandemic levels. The low inventory/sales ratio suggests an increase in new and therefore used car prices, in line with the recent decline and increase in Manheim auction prices. Market implications Greater risk of higher terminal FFR, beyond recent market price increases. Deflation has been limited to used car prices FOMC participants have repeatedly announced that disinflation has begun. However, disinflation has so far…
DMCC supports the strengthening of the Halal ecosystem to provide trusted and unified Halal certification to exporters to improve commodity trade flows in the UAE.The new joint venture will facilitate Halal certifications in accordance with international Halal accreditation requirements.Dubai, United Arab Emirates: UAE-based international conglomerate Ghassan Aboud Group and Halal Quality Control Group (HQC) have announced the introduction of Halal certification solutions for UAE companies that produce and export Halal goods at the world’s largest annual global food and beverage supply event, Gulfood.The joint venture will provide business and accreditation solutions that maintain high standards and regulations in line with…
Zeus looks out the car window as his owner collects pet food at the Animal Food Bank of Miami-Dade County, Thursday, June 4, 2020, at Lake Stevens Park in Miami Gardens, Florida. Wilfred Lee/AP hide caption toggle subtitle Wilfred Lee/AP A new bill has been proposed in Florida that would enact a number of animal protections and guidelines, including a ban on cat slaughter, animal testing of cosmetics and dogs hanging their heads out of windows. Florida Senate Bill 932, introduced by Democratic state Minority Leader Lauren Book, says dogs would not be able to stick any part of their…
SACRAMENT – Nearly five months after Gavin Newsom initially called for a penalty on excessive oil company profits, the governor and lawmakers in Sacramento appear no closer to deciding how to prevent the kind of gas price hikes that Californians experienced ‘last year. At the first legislative hearing on the governor’s proposal at the state Capitol Wednesday, lawmakers shared concerns about the potential unintended consequences of his desire to limit industry earnings. Some oil market experts said Newsom’s idea to limit oil refinery profits would not solve the problem, with one calling it a “fiscal gimmick.” Other economists agreed with…
The forward curve for WTI (West Texas Intermediate) oil has shown a sharp shift over the past year, Standard Chartered analysts noted in a new report sent to Rigzone. “While the entire curve has moved lower year over year, the back end of the curve has fallen more,” the analysts said in the report. “The usual smooth asymptote converging to a long-term oil price level has transformed into a near-straight line that points lower and lower. The main question is whether the collapse at the back of the oil price curve is a market signal or a market failure,” the…
Mercedes wants to streamline production and upgrades while making extra money for remote software updates for Stephen Rivers comments comments 7 hours ago Along with a number of other big announcements from Mercedes Benz today, including of course the interior of the 2024 E-Class sedan, it’s building its own proprietary operating system. MB.OS will not only serve as the future infotainment interface for Mercedes models, but will also support software updates, automated driving features and more. Building an operating system will give Mercedes more power over how the system works both internally and at the customer level. In this case,…
Visitors look at an electric vehicle at the Bangkok EV Expo. The event was held at the Queen Sirikit National Convention Center (QSNCC) in Bangkok from 16 to 19 February 2023. (Photo: Varuth Hirunyatheb) KUALA LUMPUR: For self-confessed tech geek and adrenaline junkie Farhan Abdul Rahim, becoming one of the first Malaysians to own an electric car in 2020 was a no-brainer, but it didn’t stop there.Last June, Farhan embarked on a three-day journey across the Malay Peninsula in his Tesla – covering around 1,700 kilometers – in an attempt to demonstrate that electric vehicles (EVs) can work beyond the…
Red Bull’s 2023 Formula 1 car has finally been seen in public for the first time, after the team went to great lengths to keep its design under wraps. The Milton Keynes-based team did a launch of the RB19 in New York earlier this month, but only unveiled a new version of an updated version of last season’s RB18. The new car then completed a private shakedown test at Silverstone, but Red Bull restricted the images that were released from the promotional day. Only blurry videos of the RB19 were distributed, and spy images of the car from spectators at…