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The Headquarters of the Organisation of the Petroleum Exporting Countries (OPEC) in Vienna, Austria on 17 December, 2018.
Beata Zawrzel | NurPhoto | Getty Images

LONDON — A group of some of the world’s most powerful oil producers will likely agree to continue increasing their output at a meeting on Tuesday, analysts say, as oil prices climb amid growing optimism over the fuel demand outlook.

OPEC and its non-OPEC partners, an alliance often referred to as OPEC+, will meet via videoconference to discuss the next phase of production policy.

It comes as the Middle East-dominated group, which is responsible for over one-third of global oil production, seeks to balance an expected upswing in demand with the potential for an increase in Iranian output.

OPEC+ announced massive crude production cuts in 2020 in an effort to support prices when the coronavirus pandemic coincided with a historic demand shock.

In April, the group opted to return 2.1 million barrels per day of supply back to the market over the May to July period, reflecting an optimistic outlook for improved mobility despite ongoing concerns about Covid worldwide.

OPEC+ is expected to reiterate this decision to gradually increase output during this week’s meeting.

“I think the event itself is going to be a non-event. We expect them to basically re-confirm the plan that they laid out on April 1,” Jeffrey Currie, global head of commodities research at Goldman Sachs, told CNBC’s “Street Signs Europe” on Tuesday. “I think the bigger issue underlying this is: How are they going to deal with Iran?”

Iran is currently in discussion with six world powers to revive its 2015 nuclear deal. The restoration of a deal could lead to more oil on the global market in the coming months.

“It’s too early to give specific numbers around Iran … So, I think the best you can hope for in terms of how they are going to deal with Iran is the indication that they are willing to offset any increases in Iran. That could be the positive upside surprise coming out of this meeting,” Currie added.

The flag of Iran is seen in front of the building of the International Atomic Energy Agency (IAEA) Headquarters ahead of a press conference by Rafael Grossi, Director General of the IAEA, about the agency’s monitoring of Iran’s nuclear energy program on May 24, 2021 in Vienna, Austria.
Michael Gruber | Getty Images News | Getty Images

OPEC Secretary-General Mohammad Barkindo on Monday said in a statement that he did not believe higher Iranian supply would be a cause for concern.

“We anticipate that the expected return of Iranian production and exports to the global market will occur in an orderly and transparent fashion,” Barkindo said.

International benchmark Brent crude futures traded at $70.75 a barrel on Tuesday morning in London, up around 2%, while West Texas Intermediate crude futures stood at $68.11, more than 2.7% higher from Friday’s close — with no settlement price on Monday due to a U.S. public holiday.

Oil prices have climbed more than 30% since the start of the year.

Iran likely to act ‘constructively’

“I think everybody is expecting Iran to add a lot of volume. So, beyond the July increase, they aren’t likely to come out with any commitment,” Amrita Sen, chief oil analyst at Energy Aspects, told CNBC’s “Squawk Box Europe” on Tuesday.

“We know that as demand rises, we will need more OPEC barrels, but I think Iran is going to be the big question mark for them,” Sen said.

OPEC+ initially agreed to cut oil production by a record of 9.7 million barrels per day last year as global fuel demand collapsed, before easing cuts to 7.7 million and eventually 7.2 million from January. As of July, the group’s production cuts are on track to stand at 5.8 million.

“The most consequential issue for OPEC+ over the short term relates to the potential rise of Iranian production as a result of the US and Iran returning to JCPOA compliance,” analysts at Eurasia Group said in a research note, referring to the acronym for the nuclear deal: the Joint Comprehensive Plan of Action.

Analysts at the risk consultancy said it believed progress in successive rounds of talks made a return to the deal likely in the third quarter of 2021.

“Over the medium term, OPEC+ will most likely adjust its policy to prevent the addition of Iranian barrels from derailing its market balancing strategy,” they continued. “Saudi Arabia will likely lean on Russia to better understand the scope of Iranian policy to work on adjustment plans. Iran would also probably act constructively as higher oil prices serve its own interests.”

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All the EVs (and PHEVs) you can buy with 0% financing in March 2025 [update]

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All the EVs (and PHEVs) you can buy with 0% financing in March 2025 [update]

Lease deals get all the hype, but most people still want to own the car after they’re done making all those payments on it. If that sounds like you, and you’ve been waiting for the interest rates on auto loans to drop, you’re in luck: there are a bunch of great plug-in cars you can buy with 0% financing this March … and that includes a zero percent Tesla deal!

UPDATE: a fancy crossover and popular off-road SUV make the list!

I’ve done a couple of these now, so you probably already know that there were plenty of ways for me to present this information. “Best EVs ..?” Too opinion based. “Cheapest EVs ..?” Too much research. In the end, I went with alphabetical order, by make. And, as for which deals are new this month? You’re just gonna have to read the article. Enjoy!

Acura ZDX

2024 Acura ZDX; via Acura.

The 2024 Acura ZDX uses a GM Ultium battery and drive motors, but the styling, interior, and infotainment software are all Honda. That means you’ll get a solidly-built EV with GM levels of parts support and Honda levels of fit, finish, and quality control. All that plus Apple CarPlay and 0% financing for up to 72 months makes the ZDX one the best sporty crossover deals in the business.

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All the electric Chevy EVs (again)

EV batteries Stanford
Silverado EV, Equinox EV, and Blazer EV at a Tesla Supercharger; via GM.

For the second month in a row, Chevrolet is offering 0% financing for up to 60 months on all three of its Ultium-based EVs – and they’re all winners. The Silverado is an incredibly capable pickup that can be spec’ed up to a 10,500 lb. GVWR, making it eligible for Class 3 incentives up to $30,000 in some markets and capable enough to tow whatever horse, boat, or RV you put behind it.

On the crossover side, both the Chevy Blazer EV and Equinox EV each offer their own takes on the five-passenger family SUV, with the cost of base model Equinox LT FWD models with 319 miles of EPA-rated range dropping to just $27,500 after you apply the $7,500 Federal tax credit (which, for now, is still a thing).

Dodge Charger EV

Dodge-Charger-EV-dealerships
2024 Dodge Charger Daytona EV; via Stellantis.

As the auto industry transitions to electric, Dodge is hoping that at least a few muscle car enthusiasts with extra cash, will find their way to a Dodge store and ask for the meanest, loudest, tire-shreddingest thing on the lot.

These days, that’s the new electric Charger – and you still owed money on the Hemi you just totaled, Dodge will help get the deal done on its latest retrotastic ride with a $3,000 rebate plus 0% financing for up to 72 months!

Ford Mustang Mach-E

Ford-Mustang-Mach-E-sales-August
2024 Ford Mustang Mach-E GT Bronze edition; via Ford.

This month, you can get a killer deal on a new 2024 Ford Mustang Mach-E (shown, above). Through March 31st, you can get $2,500 in bonus cash, a free L2 home charger installed, plus 0% financing for up to 72 months. Tesla owners can also get an additional $1,000 in conquest cash, bringing the hood money total to $3,500.

Ford also announced a 0% financing deal plus $4,000 in bonus cash on the F-150 Lightning pickup, while Ford Pro customers buying an F-150 Lightning for their commercial or public fleet can get even better deals on the OG electric trucks.

GMC Hummer and Sierra Denali EV

2025 GMC SIERRA EV DENALI
2024 GMC Sierra Denali EV; via GM.

The biggest Ultium-based EVs from GM’s commercial truck brand are seriously impressive machines, with shockingly quick acceleration and on-road handling that seems to defy the laws of physics once you understand that these are, essentially, medium-duty trucks. This month, GMC is doing its best to move out its existing inventory of 2024s, so if you’re a fan of heavy metal you’ll definitely want to stop by your local GMC dealer and give the Hummer EV and Sierra Denali EV a test drive.

Honda Prologue

Honda-Pologue-2025
2024 Honda Prologue; via Honda.

Despite the Honda Prologue was one of the top-selling electric crossovers last year by combining GM’s excellent Ultium platform with Honda sensibilities and Apple CarPlay, Honda upgraded the 2025 model with slightly more EPA range. Even so, there’s still some remaining 2024 inventory out there and dealers are ready to deal (that’s what they do, after all). To make room for the 2025 models, Honda is offering 0% APR for up to 72 months on the remaining 2024s.

Hyundai IONIQ 5

Hyundai-IONIQ-5-world-record
IONIQ 5 record-setting performance; via Hyundai.

Hyundai is still offering 0% financing for 60 months on all versions of the hot-selling 2024 IONIQ 5 crossover, making it hard to overlook in the five-passenger segment. It’s worth noting that Hyundai is also offering the 5 with $7,500 bonus cash in select markets, but that offer can’t be stacked with the 0%, so do some math before deciding which way you want to go.

Jeep Grand Cherokee 4xe

Jeep Grand Cherokee 4xe; via Stellantis.

I have, admittedly, never spent a lot of time in the latest iteration of Jeep’s Grad Cherokee. Once upon a time, I drove a ZJ GC with the immortal and buttery-smooth 4.0L inline six and every iteration since has, in my opinion, been a step in the wrong direction. I’d still prefer a ZJ, sure, but after a week spent behind the wheel of a white-on-black 2025 Jeep Grand Cherokee 4xe, I have come around. That interior is a nice place to be, whether that’s because of Mercedes’ influence or Fiat’s or Peugeot’s is less clear – but shouldn’t take away from the experience.

If you haven’t given the latest JGC a chance, yet, know that its 17.3 kWh 400 V lithium-ion is big enough to go 26 miles on pure electric power, with “just” two hours needed on a L2 port to get you back to 100% charge and US News is reporting 0% financing deals on the popular SUV for up to 72 months all month long.

All the Kia EVs

2024 Kia Niro EV; via Kia.

Kia’s EV6 and EV9 have been grabbing headlines and setting sales records sine the Kia EV6 shocked the world, making its global debut on a drag strip where the car ran against a Lamborghini, a Porsche, and an AMG Mercedes (and won). This month, however, it’s the Kia Niro EV’s turn to shine thanks to 0% financing on the fun, compact urban runabout for up to 60 months.

The Niro’s bigger siblings are getting the 0% treatment, too, for a longer 72 month term.

Lexus RZ

Lexus-RZ-range
Lexus RZ; via Lexus.

The Lexus RZ got more range and more power in its top-of-the-line F Sport trim for 2025, but even with the range bump it only offers 266 miles of EPA estimated range in the RZ 300e version with 18″ wheels. That number drops to just 224 miles on the same model with 20″ wheels. (!?)

That said, 200 miles of range is probably more than enough for 360 of any given year’s 365 days. If you can live with making an extra stop or two on the other five, you’ll be rewarded with Toyota quality, Lexus levels of fit and finish, and Lexus’ legendary customer service and dealership experience. Combine that with 0% financing for up to 72 months, and the RZ might be a winner after all.

Mitsubishi Outlander PHEV

Mitsubishi Outlander PHEV
2024 Mitsubishi Outlander PHEV; via Mitsubishi.

One of the first three-row plugin cars to hit the market (and a frequent addition to these 0% lists), Mitsubishi’s Outlander PHEV offers up to 38 miles of electric range from its 20 kWh li-ion battery, making it a great “lily pad” vehicle for suburban families who want to drive electric but still worry about being able to find a charging station when they need one.

Nissan Ariya

2024 Nissan Ariya; via Nissan.

I’ve already said that the Nissan Ariya didn’t get a fair shake. If you click that link, you’ll read about a car that offers solid driving dynamics, innovative interior design, and all the practicality that makes five-passenger crossovers the must-haves they’ve become for most families. With great discounts available at participating dealers, Supercharger access, and 0% interest from Nissan for up to 72 months, Nissan dealers should have no trouble finding homes for their remaining 2024 Ariya crossovers.

Subaru Soltera

Subaru Solterra
2023 Subaru Soltera; via Subaru.

Despite being something of a slow seller, this mechanical twin of the Toyota bZ4X EV seems like a solid mid-size electric crossover with some outdoorsy vibes and granola style that offers more than enough utility to carry your mountain bikes to the trail or your kayaks to the river. The company is hoping to help clear out its remaining 2024 models with big discounts and 0% financing for up to 72 months.

Tesla Model 3

Tesla Model 3 Highland Refresh
Model 3 Highland; via Tesla.

Say what you will about Elon Musk – and I say plenty over on the Quick Charge podcast – the fact remains that we wouldn’t be here talking about EVs at all if it wasn’t for his marketing brilliance, bravado, and sheer force of will. Beyond that, Tesla simply offers as superior ownership experience through total software integration, unfettered access to the Supercharger network, and the best EV route-planning software this side of Chargeway.

If you can stomach being associated with Elon (or have an inside line on some spare Honda badges), you can get a new Model 3 for 0% interest or 0.99% with $0 down if you apply the $7,500 Federal tax incentive at the point of purchase.

Volkswagen ID.4

Volkswagen-EVs-in-2023
VW ID.4; via Volkswagen.

One of the most popular legacy EVs, the ID.4 offers Volkswagen build quality and (for 2024) a Chat-GPT enabled interface. To keep ID.4 sales rolling, VW dealers are getting aggressive with discounts, making this fast-charging, 291 mile EPA-rated range, 5-star safety rated EV a value proposition that’s tough to beat.

This month, get a Volkswagen ID.4 with 0% financing for up to 72 months plus a $5,000 customer cash bonus to stack with it.

Disclaimer: the vehicle models and financing deals above were sourced from CarsDirectCarEdge, USNews, and (where mentioned) the OEM websites – and were current as of 24MAR2025. These deals may not be available in every market, with every discount, or for every buyer (the standard “with approved credit” fine print should be considered implied). Check with your local dealer(s) for more information.

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Oil major Shell vows to boost shareholder returns, doubles down on LNG push

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Oil major Shell vows to boost shareholder returns, doubles down on LNG push

A view shows a board with the logo of Shell at the company’s fuel station in Saint Petersburg, Russia May 6, 2022. 

Anton Vaganov | Reuters

British oil major Shell on Tuesday announced plans to increase shareholder returns and cut spend, as it doubles down on its liquified natural gas (LNG) push.

In an announcement ahead of its Capital Markets Day 2025 event, the company said it would bolster shareholder distributions to 40-50% of cash flow from operations, up from a 30-40% range previously. It intends to stick to progressive dividends of 4% per year and to grow free cash flow per share by more than a yearly 10% through to 2030.

The oil major also said it will lower its spending to $20-22 billion per year through to 2028, after targeting such costs in a $22-25 billion range for 2024 and 2025 back in 2023.

The oil company separately said it aims to trim its structural cost reduction target from $2-3 billion by the end of this year to a cumulative $5-7 billion by the end of the three-year stretch to the end of 2028, compared with 2022 plans.

Shell — the world’s largest liquified natural gas trader — guided it will grow output across its combined upstream and integrated gas businesses by 1% per year through to 2030, as well as increase LNG sales by 4-5% every year through that period. It will separately keep its oil production steady at 1.4 million barrels per day until the end of the decade.

The company intends to expend 10% of its capital in low-carbon businesses by 2030.

”We want to become the world’s leading integrated gas and LNG business and the most customer-focused energy marketer and trader, while sustaining a material level of liquids production. Today we are raising the bar across our key financial targets, investing where we have competitive strengths and delivering more for our shareholders,” CEO Wael Sawan said in a Tuesday statement.

European oil companies have increasingly battled pressure to review their portfolio strategy in a bid to lock step with shareholder returns offered by majors in the U.S., where White House leader Donald Trump’s administration champions the resurging output of fossil fuels.

Shell has largely outpaced European peers, with shares up 11.3% in the year to date, but most recently notched a sharp drop in annual profit to $23.72 billion for full-year 2024, missing expectations. It announced a 4% hike in dividend per share and launched a $3.5 billion buyback program at the time.

“Shell’s share price has outperformed the peer group handily, and so it should not be a surprise that today’s update reads as more evolution than revolution,” RBC analysts said in a Tuesday note. “At the margin, the guidance looks better than expected, with higher cost reductions, capex guidance coming in lower at the midpoint versus consensus, and higher shareholder returns than anticipated.”

Shell’s stock was up 2% at 8:30 a.m. London time.

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Peugeot asks the question: what if you built a LeMans-inspired cargo van?

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Peugeot asks the question: what if you built a LeMans-inspired cargo van?

Peugeot UK says its new E-EXPERT SPORT electric cargo van was inspired by the brand’s rich motorsport pedigree, and the desire to bring that racing heritage to the everyday working professional. And let’s face it, kids – if a fat-tired and bespoilered European cargo van doesn’t excite you, I don’t know what will!

Built on the Peugeot LCV cargo van, the new E-EXPERT SPORT adds a unique body kit that, “reflects its sporty nature,” with a front lip spoiler and side skirts that provide the sporty van with an athletic and aggressive stance.

The E-EXPERT SPORT also adds a special “Kryptonite” livery applied to the van’s sides, grille, upholstery, and unique badging on both the inside and outside of the van. That part’s essential, since your plumber may have forgotten he paid a bunch of extra money for the go-fast version of the van he depends on to provide for his family.

The company says the livery matches the color palette of the electrified Peugeot 9X8 Hypercar (below), which is currently competing in the World Endurance Championship (WEC) series and the iconic 24 Hours of Le Mans later this summer.

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Peugeot 9X8 Hypercar

Other key differences between the E-EXPERT SPORT and the more pedestrian Peugeot LCV include equipment options over and above the LCV’s ASPHALT trim, including dual-zone electronic climate control, keyless entry and start, and wireless smartphone charging. The sporty van also includes the LCV’s Winter Pack, which includes a heated leather steering wheel, heated driver’s seat, and side-impact airbags for enhanced front row safety.

The all-electric E-EXPERT SPORT van ships with a 75 kWh battery paired to a 136 hp (100 kW) electric motor producing 270 Nm (200 lb-ft) of torque for a range of up to 209 miles on the WLTP Combined Cycle. The boxy Peugeot can be charged at speeds of up to 100 kW from a DC rapid charger, enabling a 10%-80% charge in under 40 minutes.

Pricing starts at about £51,800 in the UK for either the crew or panel versions. Order books open April 1st, which would be suspicious if Brits were funny.

Electrek’s Take

Vehicles that operate on a more-or-less fixed route with predictable stops are a no-brainer for electrification – that, along with better insulation against oil costs, superior uptime, and reduced maintenance keep the commercial EV market growing, regardless of politics.

If it makes cents, it makes sense.

SOURCE | IMAGES: Stellantis.

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