Auto Industry

Reuters

Oct 27, 2022, 1:45 PM

Automakers To Double Spending On EVs, Batteries To $1.2 Trillion By 2030

Automakers have forecast plans to build 54 million battery electric vehicles in 2030, representing more than 50% of total vehicle production

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  Reuters | Oct 27, 2022

  Two Oil Wells Operated By Nigeria's Eroton On Fire -Oil Spills Agency

  The National Oil Spills Detection and Response Agency (NOSDRA) said the fire broke out at two wells in Rivers state, in the Niger Delta. A boat suspected to have been engaging in theft of crude oil was burnt to ashes at the site.

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  Reuters | Oct 27, 2022

  Oil Jumps More Than 3% Ahead Of OPEC+ Meeting On Supply Cuts

  The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, look set to cut output when they meet on Wednesday. The move would squeeze supply in an oil market that energy company executives and analysts say is already tight due to healthy demand, a lack of investment and supply problems.

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  Reuters | Oct 27, 2022

  France Taps Strategic Fuel Reserves As Refinery Strike Grinds On

  Government spokesman Olivier Veran acknowledged "tensions" but said there was no shortage of fuel stocks at a national level. He urged consumers not to panic-buy petrol.

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  Reuters | Oct 27, 2022

  OPEC+ Agrees Deep Oil Production Cuts, Biden Calls It Shortsighted

  OPEC's de-facto leader Saudi Arabia said the cut of 2 million barrels per day (bpd) of output - equal to 2% of global supply - was necessary to respond to rising interest rates in the West and a weaker global economy.

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  Reuters | Oct 27, 2022

  Oil Rises To 3-Week Highs As OPEC+ Agrees To Deep Cuts, U.S. Stockpiles Fall

  Prices also rose on U.S. government data that showed crude and fuel inventories fell last week.

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  Reuters | Oct 27, 2022

  India To Pitch For Global Biofuels Alliance At G20 - Report

  India, also the world's third-biggest oil importer, ships in about 85% of its crude needs, but is gradually building capacity to increase its output of biofuels.

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  Reuters | Oct 27, 2022

  Tesla Flags Its Cars Not Ready To Be Approved As Fully Self-Driving This Year

  Musk told a post-earnings call that all full self-driving users in North America will get an Autopilot feature at the end of the year, adding that while its cars are not ready to have no one behind the wheel, drivers would rarely have to touch the controls.

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  Reuters | Oct 27, 2022

  India To Examine Russia Oil Price Cap; Its Refiners Line Up Dec Crude Buys

  The price cap plan calls for G7 countries to deny insurance, finance, brokering, navigation and other services to oil cargoes priced above a yet-to-be-determined price cap on crude and oil products.

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