When will oil demand peak? It depends on who you ask. Fitch Solutions, for example, does not see oil demand peaking during its forecast period, which runs to 2032, according to Emma Richards, the company’s associate director of oil and gas. “Based on how growth is trending, demand is likely to peak in the mid-2030s, although there is a lot of uncertainty when forecasting that far,” Richards told Rigzone. “The picture is very different between developed and emerging markets. For the former, we expect to fall into a deep and structural downturn from 2025, but this is being comfortably offset…
Author: Automotivedealernews.com
A Quincy man accused of hitting a man with a car has been charged with a federal hate crime A Massachusetts driver has been charged with a federal hate crime for allegedly hit and seriously injure a man with his car in a racist attack last December, the Justice Department announced Wednesday.The indictment, returned by a federal grand jury in Boston, accuses the driver, John Sullivan, 77, of intentionally hitting George Ngo, 38, in Quincy. It alleges that Sullivan “willfully caused bodily harm” to Ngo, who is referred to only by his initials in the document, and attempted to cause…
Originally published on 2/16/2023 at 8:30am ET A combination of economic data, earnings reports, guidance and general stock market sentiment is driving all stocks right now. This includes penny and higher priced stocks. While broader trends tend to be less impactful for cheap stocks, they’re good to keep in mind because they can greatly influence different sector trends, which can have a greater influence on things like penny stocks. This month we got our first taste of inflation data from the January CPI report. The inflation data was the first to come out under the new weighting system and was…
Photo by Miro Vrlik // Shutterstock 5 electric cars with the highest trade-in values A white Chevrolet Bolt EUV on display in a showroom. Electric vehicles (EVs) are becoming increasingly popular. According to Car and Driver and industry reports, nearly 5% of new car sales in the US are now gas-guzzling vehicles. While this might not seem significant, the first three months of 2022 saw a 60% increase in new electric vehicle registrations. These latest forms of transportation are literally on the move. It all adds up to a conversation about electric cars with the highest trade-in values. Trade-in values,…
Northwest Europe The fast supply of LSMGO to the ARA bunkering center is said to be tight at the moment. The product has a recommended delivery time of around four days in Rotterdam, according to a source. A delivery time of 4-5 days is recommended for VLSFO delivery to Rotterdam, while HSFO requires around 5-6 days. The prospects for delivering HSFO to the region are subject to consultation, according to a source. ARA’s diesel stocks – which include diesel and heating oil – have increased by an average of 13% this month compared to January. According to Insights Global data,…
Oil fell in a volatile session that was rocked by a flurry of supply and demand data and a sharply stronger dollar. West Texas Intermediate pared sharp losses after U.S. data showed total crude inventories rose to their highest level since the summer of 2021. The International Energy Agency on Wednesday raised the its forecast for global oil demand this year as China reopens its economy, echoing OPEC’s more dovish outlook. day before Meanwhile, a strong dollar pressured almost all commodities downward, limiting the ability of the touches to break out. “The demand trajectory is improving and the supply trajectory…
ROCKVILLE, Md. — Many of us love our cars. They are a great investment and a point of pride.So when a Maryland man saw someone doing something not-so-cool with his Ford Focus, it was perhaps no surprise that millions of people reacted to his video.If you’ve ever wondered if your mechanic is doing something to your car when you’re not looking, a TikTok video from Rique, aka @euqir78, might confirm your fears.”He drove my car after I dropped it off for inspection. And they drove me to McDonald’s,” Rique says in the video, as a guy in a mechanic’s suit…
Gegg Phil Murphy (D-NJ) said he will make all new car and truck sales zero-emissions by 2035, joining a handful of other states in adopting the ambitious electric vehicle goal set for the first time for California Murphy announced the new schedule for phasing out sales of traditional internal combustion engine vehicles during a speech at Rutgers University on Wednesday. There, he outlined six new executive actions related to the environment will make the Garden State more “green,” including increasing the state’s term by 15 years, setting a goal of reaching 100 percent clean energy by 2035 instead of 2050.…
The former train station in downtown Jacksonville will be filled with a different kind of wheels this weekend. The 37th Jacksonville International Auto Show will return to the Prime Osborn Convention Center for a four-day display of new cars, trucks and more. As an expanded part of the annual new car and truck show, multiple events for adults and children will be held as a display of classic cars shines among the latest from automakers. The Thursday-Sunday show is sponsored by the Jacksonville Automobile Dealers Association and its 62 dealer members in Clay, Duval, Nassau and St. Johns. Auto companies…
(Adds Earnings Comparison, Stock Movement, Price Projections)By Ernest ScheiderFeb 15 (Reuters) – Albemarle Corp, the world’s biggest producer of lithium for the electric vehicle industry, reported a better-than-expected quarterly profit on Wednesday, helped by a fivefold increase in sales of the metal from batteryThe results came despite a more than 300% jump in the price Albemarle charges for its lithium, reflecting automakers’ aggressive search for new supplies of the battery metal as they build fleets of all-electric vehicles.Albemarle expects lithium prices to rise at least another 55% this year, part of astrategyoutlined last month that prices would remain high indefinitely…