Auto Industry News

China, the world's top crude importer, imported 8.79 million barrels per day (bpd) of crude in July, up from a four-year low in June, but still 9.5% lower than a year ago, customs data showed.

Prices have rebounded with at least two cargoes loading between end-September and early October sold at parity against Middle East benchmark Dubai

Tata Passenger Electric Mobility and Ford India have signed a Unit Transfer Agreement for the acquisition of the latter's Sanand manufacturing plant, which includes entire land and buildings, manufacturing facility and all eligible employees.

The Swiss government imposed further sanctions against Russia over the war in Ukraine, in line with the European Union's latest measures on gold and gold products, the cabinet said.

Global oil prices dropped on Thursday to their lowest levels since before Russia's February invasion of Ukraine, as traders fretted over the possibility of an economic recession later this year that could torpedo energy demand.

The United States on Monday imposed sanctions on Chinese and other firms it said helped to sell tens of millions of dollars' in Iranian oil and petrochemical products to East Asia as it seeks to raise pressure on Tehran to curb its nuclear programme.

Moldova's pro-Russian opposition leader called for snap presidential and parliamentary elections on Tuesday and told the pro-Western government to go to Moscow to negotiate cheaper natural gas from Russia as prices soar.

Oil futures edged up less than 1% on Tuesday ahead of a meeting of OPEC+ producers this week that may not lead to a further boost in crude supply amid concerns a possible global recession could limit energy demand.