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India Raises Windfall Tax On Crude Oil
India has raised a windfall tax on crude oil to 10,200 Indian rupees ($125.22) per tonne from 9,500 rupees per tonne.
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Europe Rushes To Fill Up On Russian Diesel Before Ban Begins
European traders are rushing to fill tanks in the region with Russian diesel before an EU ban begins in February, as alternative sources remain limited.
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Oil Rebounds From Early Plunge After Saudis Deny OPEC+ Output Report
Oil prices rebounded from early losses after Saudi Arabia denied a report it was discussing an increase in oil supply with OPEC and its allies.
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Global Stocks, Oil Prices Slip As Rising COVID Cases Prompt Chinese Lockdowns
Global stocks and oil prices slipped as a spike in COVID-19 cases and newly recorded deaths in China prompted authorities to reinstate lockdowns.
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Oil Rises 1% As OPEC+ Focus On Supply Cuts Outweighs Recession Concerns
Oil prices rose about 1% after top exporter Saudi Arabia said OPEC+ was sticking with output cuts and could take further steps to balance the market.
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Indian Refiners Becoming Wary Of Buying Russian Oil As EU Sanctions Loom - Report
Indian refiners are wary of buying Russia crude oil loading after Dec. 5 when European Union sanctions take effect, pending clarity on the proposed G7 price cap mechanism.
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India's October Fuel Demand Rises On Festive Season Boost
India's fuel consumption rose to its highest in four months in the festival month of October.
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Foxconn To Become Biggest Shareholder In Lordstown Motors With Up To $170 Million Investment
Lordstown Motors Corp has agreed a deal under which a Foxconn affiliate will invest up to $170 million in the EV maker.
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Uber-Rival Beat Withdraws From Latin America
Ride-sharing app Beat is withdrawing from Latin America to focus on its European operations.
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Bosch CEO Sees Inflation Weighing On Margins But Could Ease Chip Shortage
Bosch sees a possible easing of the global chip shortage in the second half of 2023 if demand dips under the weight of inflation.
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Tesla Has Considered Exporting EVs From Shanghai To US, Canada - Report
Tesla has considered plans for exporting made-in-China electric vehicles to the United States and Canada.
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Redwood Materials To Supply Cathode Material To Panasonic U.S. Battery Plant
Panasonic will buy remanufactured battery cathode material from Redwood Materials beginning in 2025.
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Mercedes Cuts Some China Electric Car Prices, Shaking Shares
Mercedes-Benz had cut prices on some of its EQE and EQS models in China due to changing market demand for top-end electric vehicles.
Read More →Indian Minister Urges OPEC+ To Consider Impact On Consumers At Dec Meeting
India's oil minister urged the OPEC+ alliance of oil producers to bear in mind the impact of their upcoming decision.
Read More →Haiti Police End Gang Blockade Of Fuel Terminal, Sources Say
Haitian police have taken control of a fuel terminal that had been blockaded by armed gangs since September.
Read More →Rupee Posts Tenth Monthly Decline On Weak Asian Peers, Oil Price Worries
The Indian rupee chalked up its tenth straight monthly fall after slipping versus the dollar, on concerns over oil prices and in line with losses in most other Asian currencies.
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India State Retailers To Marginally Cut Petrol, Diesel Prices From Tuesday
India's top fuel retailer Indian Oil Corp will marginally cut petrol and diesel prices from Tuesday.
Read More →Oil Falls On U.S. Output Gains, Chinese Demand Doubts
Oil prices fell on expectations that U.S. production could rise and as weaker economic data out of China and the country's widening COVID-19 curbs weighed on demand.
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Japan To Seek U.S. Flexibility On EV Purchase Incentives, Kyodo Reports
Japan will ask the United States to be more flexible on EV purchase incentives for non-American carmakers.
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VW's SEAT Says Spain's Subsidy For Battery Plant, EV Production 'Not Sufficient'
The chief of Volkswagen's Spanish unit SEAT said the subsidies offered by Spanish authorities for a battery factory construction and electric vehicle production "is not sufficient", but voiced optimism about finding a solution.
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