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Oil derrick pumps operate at the Inglewood Oil Field in Culver City, California, on Sunday, July 11, 2021.
Kyle Grillot | Bloomberg | Getty Images

LONDON — The International Energy Agency on Tuesday warned that world oil markets are likely to remain volatile following a breakdown in talks between OPEC members and their non-OPEC allies, creating a no-win situation.

In its latest monthly oil market report, the IEA said energy market participants were closely monitoring the prospect of a deepening supply deficit if a deal was not reached by the Organization of the Petroleum Exporting Countries and its oil-producing allies, a group known as OPEC+.

“Oil markets are likely to remain volatile until there is clarity on OPEC+ production policy. And volatility does not help ensure orderly and secure energy transitions — nor is it in the interest of either producers or consumers,” the IEA said.

OPEC+ abandoned talks last week that would have boosted oil supply. Most delegates tentatively agreed to increase oil production by around 400,000 barrels per day in monthly installments from August until the remaining supply cuts were unwound. This was likely to extend supply cuts through to the end of 2022.

The UAE rejected these plans, however, insisting on a higher baseline from which cuts are calculated to better reflect its increased capacity.

It means no agreement has been reached on a possible increase in crude production beyond the end of July, leaving oil markets in a state of limbo just as global fuel demand recovers from the ongoing coronavirus crisis.

OPEC+, which is dominated by Middle East crude producers, agreed to implement massive crude production cuts last year in an effort to support oil prices when the coronavirus pandemic coincided with a historic fuel demand shock.

The energy alliance has since met monthly to try to decide on the next phase of production policy.

OPEC+ has not made progress in resolving the dispute between OPEC kingpin Saudi Arabia and the UAE, Reuters reported on Tuesday, citing unnamed OPEC+ sources. It makes the prospect of another policy meeting this week less likely.

Oil prices

The IEA said it expects global oil demand to rise by 5.4 million barrels per day this year and by a further 3 million barrels in 2022, largely unchanged from last month’s forecast.

Meanwhile, the “remote” possibility of a market share battle between producers is hanging over energy markets, the IEA said, warning that higher fuel prices and rising inflation could damage a fragile economic recovery.

The uncertainty over the potential global impact of the highly transmissible Covid-19 delta variant was also likely to temper market sentiment in the coming months, the group said.

International benchmark Brent crude futures traded at $75.57 a barrel on Tuesday morning, up 0.5% for the session, while U.S. West Texas Intermediate futures stood at $74.51, around 0.6% higher.

“While prices at these levels could increase the pace of electrification of the transport sector and help accelerate energy transitions, they could also put a drag on the economic recovery, particularly in emerging and developing countries,” the IEA said.

Oil prices rallied more than 45% in the first half of the year, supported by the rollout of Covid vaccines, a gradual easing of lockdown measures and record production cuts from OPEC+.

“Although bullish sentiment has been somewhat tempered recently, oil prices are still comfortably holding above $70/bbl. Whether this remains so depends wholly on the next move by the OPEC+ alliance,” Stephen Brennock, oil analyst at PVM Oil Associates, said in a research note.

“The longer the standoff continues the harder it will be to resolve the situation,” he added.

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Is a $10,000 discount enough to overcome your VW ID.Buzz sticker shock?

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Is a ,000 discount enough to overcome your VW ID.Buzz sticker shock?

VW’s retro-tastic minivan hasn’t been the sales success the company might have wanted, and a lot of that has to do with the van’s sky high price tag. Now, VW is asking: will a $10,000 discount be enough to create some buzz for the ID.Buzz?

Volkswagen is offering $7,500 in Retail Customer Bonus cash this month – up from the $2,500 the company offered its Black Friday customers – that, along with an additional $2,500 unadvertised dealer cash incentive that CarsDirect is reporting absolutely, definitely exists, adds up to a stout $10,000 total discount on the all-electric VW ID.Buzz … and that’s before you start haggling with your dealer over the MSRP.

It’s a lot


VW ID. Buzz trims
Photo: Volkswagen of America.

As much as I like the the Volkswagen ID.Buzz, its starting MSRP around $61,545 (incl. destination) puts it at nearly twice what you’d probably expect a minivan to cost if the last time you shopped for one was at a Dodge store. Still, that hefty price tag is some $20,000 higher than the baseline Toyota Sienna hybrid or Honda Odyssey.

That 50% higher price is a lot to swallow even if you do buy into the nostalgia. Still, the ID.Buzz is capable enough, and with ~230 miles of range and 282 hp on offer from its battery/electric motor combo – plus Supercharger access – it’s at least able to keep up with the minivan competition.

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So, while that $10,000 discount isn’t going to turn the ID.Buzz into the second coming of the affordable, family-hauling Caravan, it does bring VW’s electric people-mover a little closer to earth. In fact, with a $50K price tag, it’s right in line with the average transaction price of a new vehicles. So, if nothing else, that reduced price could finally gives electric minivan buyers something to buzz about (I tried so hard to work that in, you guys).

If you’ve been shopping for a family-hauler and dig the retro vibe over something like the (excellent) Kia EV9, click through the link below and set up a test drive at your local VW dealer.

SOURCE: CarsDirect; images via VW.


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Peterbilt takes aim at medium-duty EV market with a full line of new trucks

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Peterbilt takes aim at medium-duty EV market with a full line of new trucks

Peterbilt has jumped into the MD truck ring with the launch three new medium-duty electric trucks that deliver zero-emissions power, ultra-fast 350 kW charging, and proven, versatile platforms for delivery, utility service, and vocational upfitting.

The new Peterbilt 536EV, 537EV, and 548EV medium-duty trucks slot into the same versatile medium-duty segments the company’s fleets already know, but swap diesel power for latest PACCAR ePowertrain, with up to 605 hp and 1,850 lb-ft of torque available at 0 rpm. That big motor draws power from a variety of LFP battery packs and be fitted with ePTO options rated for either 25 kW (two-battery option) or 150 kW (three-battery option), making them suitable for that can be sized for daily delivery routes, urban utility work, and municipal fleets looking to cut both emissions and maintenance costs.

What’s more, the new Peterbilt’s flexible architecture allows for integration with existing PACCAR suspension bits to make 4×2 and 6×4 configurations, and any wheelbase of 163 inches or longer, and up to 82,000 lbs. gross combined weight ratings possible.

“[The new trucks are] optimized for the demands of the medium duty segment, the next generation of Peterbilt electric vehicles deliver excellent efficiency, rapid charging and versatile configurations elevating customer productivity across a wide range of applications,” said Erik Johnson, Peterbilt assistant general manager, Sales & Marketing.

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In addition to all those goodies, the PACCAR EV tech continues to be top-notch, with the previously-mentioned 350 kW charging, regenerative braking, and industry-leading ergonomics.

Peterbilt’s new MDEVs ship with a blue accented crown and grille for a distinctive exterior look, as well as EV-exclusive panels on the side of the hood. The interior design features laser-etched trim panels on the EV-exclusive Magneto Gray interior, just in case the driver in the quiet, smooth, and stink-free cabin forgets they’re in an electric truck.

Electrek’s Take


Peterbilt Expands Electric Vehicle Portfolio with All-New Medium Duty Models 536EV, 537EV and 548EV
Peterbilt 536EV; via PACCAR.

Ignore the headlines. The death of the commercial EV market simply hasn’t happened, and won’t happen any time soon.

If you believe the engineers and analysts at MAN Trucks and Orange EV (and, you should), an EV like this can pay for itself in reduced fuel and maintenance costs even without incentives, then you should already know what I’m about to say: the future of trucking is 100% electric.

SOURCE | IMAGES: PACCAR.


If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them. 

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

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Subaru’s new electric SUV delivers over 300 miles range and it starts at under $35,000

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Subaru's new electric SUV delivers over 300 miles range and it starts at under ,000

Subaru’s smaller, more affordable Uncharted EV will be among the few electric vehicles with a starting price of under $35,000.

2026 Subaru Uncharted EV prices and range by trim

The 2026 Subaru Uncharted EV will join the Nissan LEAF, Toyota bZ, Hyundai IONIQ 5, and Chevy Equinox as one of the few new EVs on sale in the US for under $35,000.

It will be the most affordable electric vehicle in Subaru’s lineup, sitting below the Solterra and Trailseeker SUVs, starting at just $34,995.

The Uncharted will be available in three trims: Premium FWD, Sport, and GT. Subaru said the entry-level Uncharted Premium FWD variant will be “offered in limited numbers.” It draws power from a single 221 hp electric motor and 74.4 kWh battery pack, providing over 300 miles of range.

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All trims use the same 74.7 kWh battery pack, but the Sport and GT models feature Subaru’s Symmetrical AWD, which slightly reduces driving range.

Subaru-Uncharted-EV-prices
2026 Subaru Uncharted EV (Source: Subaru)

The Sport and GT variants deliver 285 miles and 270 miles of range, respectively. The AWD system packs a combined 338 hp, which Subaru boasted “is more than the Hyundai Kona EV and Kia Niro EV.”

Like the new 2026 Trailseeker and Solterra, the Uncharted EV has a battery preconditioning system that boosts charging performance in cold weather. With charging speeds of up to 150 kW, the electric SUV can recharge from 10% to 80% in around 28 minutes.

Subaru-Uncharted-EV-prices
The 2026 Subaru Uncharted EV (Source: Subaru)

All 2026 Subaru Uncharted EV models will feature a built-in NACS port, enabling access to over 25,000 Tesla Superchargers across the US.

Although the Uncharted is nearly 7″ shorter than the Solterra, it still offers more than 25 cubic feet of cargo space behind the second row.

Subaru-Uncharted-EV-prices
Subaru Uncharted EV interior (Source: Subaru)

The interior features the brand’s updated design with a 14″ Subaru Multimedia System that includes wireless Apple CarPlay and Android Auto.

Starting at $34,995, the entry-level Premium FWD trim includes EyeSight driver-assist features such as Pre-Collision Braking, Front Cross Traffic Alert, Blind Spot Monitors, Lane Departure Alert, Emergency Stop Assist, Advanced Adaptive Cruise Control, and a distraction mitigation system.

2026 Subaru Uncharted EV trim Starting Price*
Uncharted Premium FWD $34,995
Uncharted Sport $39,795
Uncharted GT $43,795
2026 Subaru Uncharted EV prices by trim (*Destination & Delivery is $1,450 and may vary in the following states: CT, HI, MA, ME, NH, NJ, NY, RI, and VT. D&D is $1,600 for retailers in Alaska.)

Eco and Snow drive modes are standard, plus an All-Weather Package is included with heated front seats, heated power exterior mirrors, and windshield wiper de-icer.

Upgrading to the Sport and GT variants, starting at $39,795 and $43,795, respectively, adds an uprated powertrain and Subaru Symmetrical All-Wheel Drive.

The 2026 Subaru Uncharted EV is expected to begin arriving at dealerships across the US in early 2026. It will join the new 2026 Trailseeker and Solterra as the lowest-priced EV in Subaru’s lineup.

With the new Uncharted and Trailseeker SUVs coming soon, Subaru is offering closeout prices on 2026 Solterra models with 0% APR financing on all trims and leases as low as $299 a month. If you’re looking to test drive one for yourself, you can use our link to find Subaru Solterra models in your area.

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