Now that the shine and allure of being the 'new fad' and government subsidies are starting to wear off - along with a marketplace full of super-saturated competition and robust supply - EVs simply aren't selling. That was the topic of a new FT report that claims the auto industry’s shift toward EVs, once seen as essential, is now facing serious challenges. It cites for example that Northvolt, Europe’s top battery producer, filed for bankruptcy last week, casting doubt on the region’s industrial strategy. Additionally, Stellantis…

After years of pressure from students and environmental groups, a multitude of higher education institutions in the U.K. have committed to excluding fossil fuel companies from their investment portfolios. However, a September report showed that funding from such companies continues to slow the switch to green energy. Meanwhile, several Elite U.S. universities continue to accept millions in funding from Big Oil every year. The student campaign group People & Planet announced in November that 115 out of 149 U.K. universities had publicly committed…

AI is reshaping the global energy market, and there’s no putting the genie back in the bottle. Machine learning and natural language processing require massive amounts of energy-hungry computing power, and as the industry grows it is already placing a major strain on energy grids around the world. But while there are serious concerns for the economic and environmental impact of the technology’s insatiable energy demand, AI remains a huge investment priority for both the public and the private sector. It’s clear that AI is here…

When you’re a Russian retiree living on a limited income, it’s bad enough trying to contend with skyrocketing prices for staples like eggs, potatoes, or butter. Now add to the list of worries: a swooning ruble hitting lows not seen in years. “I see these prices, my eyes get wide,” said one retired history teacher who lives in St. Petersburg and tries to get by on a 19,100-ruble ($187) monthly pension. “What's going on? Prices are rising for absolutely everything.” “Polite words fail me, of course”…

The European Union is working with the United States to soften the blow without undermining their shared stance against Moscow. Gazprombank, pivotal for Russian natural gas transactions, has become a focal point of geopolitical and energy strategy since the U.S. imposed sanctions last month. While President Vladimir Putin’s decision to scrap the requirement for foreign buyers to rely solely on Gazprombank offers some flexibility, it’s done little to untangle the legal and logistical challenges facing the EU. The current discussions…

The European Union is working with the United States to soften the blow without undermining their shared stance against Moscow. Gazprombank, pivotal for Russian natural gas transactions, has become a focal point of geopolitical and energy strategy since the U.S. imposed sanctions last month. While President Vladimir Putin’s decision to scrap the requirement for foreign buyers to rely solely on Gazprombank offers some flexibility, it’s done little to untangle the legal and logistical challenges facing the EU. The current discussions…

Via Metal Miner  The Automotive MMI (Monthly Metals Index) remained sideways, only moving down 2.58%. There are currently no significant factors within the US automotive market causing much movement in price action, and automotive sector as a whole remains slow. Despite this, concern about incoming tariffs from the new Trump administration remains palpable. While Trump hasn’t threatened tariffs on large automotive manufacturing nations like Japan or Germany, any hot-dipped galvanized steel products coming out of China will be subject…

The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data that Baker Hughes published on Friday, after falling in the two weeks prior. The total rig count rose by 7, landing at 589 total rigs, according to Baker Hughes, down 37 from this same time last year. The number of oil rigs rose by five this week to 482—down by 21 compared to this time last year. The number of gas rigs rose by two rigs, landing at 102, a loss of 17 active gas rigs from this time last year. Miscellaneous stayed…

Russia’s oil deliveries to China via Kazakhstan have stayed essentially flat this year, according to data by Kazakhstan’s pipeline operator KazTransOil. Between January and November this year, oil transit from Russia to China on KazTransOil’s network stood at 9,117,000 tons of oil, the company said on Friday in an overview of its export and transit oil deliveries for the first 11 months of the year. The volume is slightly down, by 0.25%, compared to the 9,140,000 tons of Russian oil transit along this route in the same period…

Companies that imported millions of Southeast Asian solar panels could have to pay tariffs on them "ranging from 30% to more than 230%", according to a new report from Bloomberg.  Companies have until December 3rd to install the panels, and U.S. Customs and Border Protection has pledged strict enforcement to prevent stockpiling, potentially exposing importers to audits, inspections, and billions in backdated tariff costs. Tom Beline, a trade attorney and partner in Cassidy Levy Kent’s Washington office, told Bloomberg: “That bill…

The OPEC+ group faced a “reality check” in discussions about its production policy and had the double task of attending to fundamentals and at the same time putting together something to assuage the negative market sentiment, Saudi Energy Minister, Prince Abdulaziz bin Salman, told CNBC in an exclusive interview on Friday. The OPEC+ alliance decided on Thursday to delay the start of the easing of the 2.2 million barrels per day (bpd) cuts to April 2025. OPEC+ has already postponed twice the beginning of the output increase. January…

The OPEC+ group faced a “reality check” in discussions about its production policy and had the double task of attending to fundamentals and at the same time putting together something to assuage the negative market sentiment, Saudi Energy Minister, Prince Abdulaziz bin Salman, told CNBC in an exclusive interview on Friday. The OPEC+ alliance decided on Thursday to delay the start of the easing of the 2.2 million barrels per day (bpd) cuts to April 2025. OPEC+ has already postponed twice the beginning of the output increase. January…

The OPEC+ group faced a “reality check” in discussions about its production policy and had the double task of attending to fundamentals and at the same time putting together something to assuage the negative market sentiment, Saudi Energy Minister, Prince Abdulaziz bin Salman, told CNBC in an exclusive interview on Friday. The OPEC+ alliance decided on Thursday to delay the start of the easing of the 2.2 million barrels per day (bpd) cuts to April 2025. OPEC+ has already postponed twice the beginning of the output increase. January…

The OPEC+ group faced a “reality check” in discussions about its production policy and had the double task of attending to fundamentals and at the same time putting together something to assuage the negative market sentiment, Saudi Energy Minister, Prince Abdulaziz bin Salman, told CNBC in an exclusive interview on Friday. The OPEC+ alliance decided on Thursday to delay the start of the easing of the 2.2 million barrels per day (bpd) cuts to April 2025. OPEC+ has already postponed twice the beginning of the output increase. January…

The OPEC+ group faced a “reality check” in discussions about its production policy and had the double task of attending to fundamentals and at the same time putting together something to assuage the negative market sentiment, Saudi Energy Minister, Prince Abdulaziz bin Salman, told CNBC in an exclusive interview on Friday. The OPEC+ alliance decided on Thursday to delay the start of the easing of the 2.2 million barrels per day (bpd) cuts to April 2025. OPEC+ has already postponed twice the beginning of the output increase. January…

The OPEC+ group faced a “reality check” in discussions about its production policy and had the double task of attending to fundamentals and at the same time putting together something to assuage the negative market sentiment, Saudi Energy Minister, Prince Abdulaziz bin Salman, told CNBC in an exclusive interview on Friday. The OPEC+ alliance decided on Thursday to delay the start of the easing of the 2.2 million barrels per day (bpd) cuts to April 2025. OPEC+ has already postponed twice the beginning of the output increase. January…

Solar cell manufacturing in the United States resumed in the third quarter as silicon cells were manufactured in the country for the first time since 2019, a pivotal moment for America’s surging solar manufacturing sector. The U.S. added a record-breaking 9.3 gigawatts (GW) of new solar module manufacturing capacity in the quarter. According to the U.S. Solar Market Insight Q4 2024 report released by Solar Energy Industries Association (SEIA) and Wood Mackenzie, five new or expanded factories in three states were added, bringing U.S. solar…

The oil market is bracing for a tough 2025, but Barclays believes the industry’s pessimism might be overdone. Brent crude hovered around $71 per barrel this week, raising chatter of a potential dip into the $50-$60 range next year. But Barclays’ analysts argue that the market’s fixation on oversupply could be cloaking the inevitable tightening of supply-demand dynamics. Current projections--even without OPEC+ reversing its production cuts--point to a surplus in 2025. Understandably, this has spooked investors away from energy…

Morgan Stanley expects Brent Crude prices to average $70 per barrel in the second half of 2025, up from a $66-$68 a barrel range expected previously, after OPEC+ delayed the beginning of its production increase and slowed the pace of the output hikes into 2026. The OPEC+ alliance decided on Thursday to delay the start of the easing of the 2.2 million barrels per day (bpd) cuts to April 2025, from January 2025. The group also extended the period in which it would unwind all these cuts until September 2026. The delay and the slower ramp-up in OPEC+’s…

OQ, the national oil company of Gulf producer Oman, plans to put more of its subsidiaries up for stock listing, following the record-breaking IPO of its OQ Exploration and Production Company earlier this year, a senior executive told Bloomberg in an interview. In October, OQ Exploration and Production Company (OQEP), Oman’s wholly-state-owned upstream oil and gas operator, raised $2.03 billion from its IPO which was the largest ever for the Gulf oil nation and the biggest in the region so far this year. OQEP sold 2 billion shares in the IPO…