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The logo of the OPEC is pictured at the OPEC headquarters on October 4, 2022.

Joe Klamar | Afp | Getty Images

A technical committee of the influential OPEC+ oil producers’ coalition has made no recommendation to change the group’s existing production policy in its latest meeting, according to three delegates.  

The OPEC+ Joint Ministerial Monitoring Committee, which tracks the alliance’s compliance with its output quota, convened digitally on Wednesday. The second OPEC+ technical group, the Joint Technical Committee that studies market fundamentals, canceled a virtual meeting originally scheduled for Jan. 31, according to a delegate. 

Neither committee can outright decide OPEC+ production policy, but the JMMC can recommend plans for the review of coalition ministers.

The JMMC will next meet on April 3, one delegate said. The three delegates preferred to remain anonymous because they are not authorized to speak publicly on the matter.

“The JMMC reaffirmed their commitment to the DoC which extends to the end of 2023 as agreed in the 33rd OPEC and Non-OPEC Ministerial Meeting (ONOMM) on 5th of October 2022, and urged all participating countries to achieve full conformity,” an OPEC+ communique said. The DoC refers to the Declaration of Cooperation, or the OPEC+ accord.

Three OPEC delegates had signaled to CNBC that the group would likely echo a ministerial December decision to roll over the production policy agreed in October. Under that provision, the group would nominally lower their production output quotas by 2 million barrels per day. Delivered cuts would sit below this figure, as actual production has long lagged output targets because of dwindling capacity, underinvestment and Western sanctions.

Questions had risen whether prospective increases in Chinese demand — the world’s largest crude oil importer, which is now softening the strict Covid-19 restrictions that lidded its purchases throughout most of last year — could push the producers’ alliance to raise their output.

“Global oil demand is set to rise by 1.9 mb/d in 2023, to a record 101.7 mb/d, with nearly half the gain from China following the lifting of its Covid restrictions,” Paris-based energy watchdog the International Energy Agency said in its latest monthly Oil Market Report, released on Jan. 18. OPEC+ countries must closely watch the development of Beijing’s demand, two delegates confirmed.

OPEC+ producers are also following the demand impact of firm inflation rates — with the European Central Bank, Bank of England and the U.S. Federal Reserve set to decide their monetary policy this week — as well as access to sanctions-constricted Russian oil supplies. The IEA estimates that Russia’s crude oil production eased from 9.8 million barrels per day in November to 9.77 million barrels per day in December, after EU sanctions implemented on Dec. 5 interdicted seaborne imports of Moscow’s crude oil supplies. A second set of measures will replicate the ban on oil products imports and take effect on Feb. 5.

Oil outlook: There's a lot of conflicting data, says S&P Global

Non-G7 countries may continue to benefit from Western financial and shipping services to take delivery of Russian crude oil, provided they make their purchases under a specified price level, now set at $60 per barrel. The plan was designed by the G-7 to retain supply into the global markets, while simultaneously diminishing Russian President Vladimir Putin’s war coffers to sponsor Moscow’s full-scale invasion of Ukraine. Russia has so far not signaled any intention to request an exemption from its production quota and continues as OPEC+ co-chair alongside Saudi Arabia, two delegates said.

OPEC+ has long taken a cautious approach in its decision-making, as it contends with market supply-demand fundamentals, pressure from international consumers to help ease the burden on households, and the need to incentivize further investment into spare capacity.

“I don’t think it is enough investment to bring additional capacity that will be needed to supply the market,” Saudi state-controlled Aramco CEO Amin Nasser told CNBC’s Hadley Gamble on Jan. 18. “It will not mitigate a situation where the demand is growing and offsetting the decline. You need additional investment elsewhere, globally, to meet global demand.”

Oil and gas industries are back, says Baker Hughes CEO

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Hyundai Ioniq 9 first drive: Stylish SUV outside, spacious and versatile 3-row minivan inside

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Hyundai Ioniq 9 first drive: Stylish SUV outside, spacious and versatile 3-row minivan inside

Hyundai flew us out to Savannah, Georgia, a few weeks ago to get our first impressions of the much-anticipated Ioniq 9 three-row SUV. The vehicle uses the same E-GMP platform as the Kia EV9 and some smaller HMG EVs but the real question is: how is the Ioniq 9 different? Let’s take a look…

Size matters

This is a big EV with spacious three rows that seat six or seven adults comfortably. As far as I am concerned,the Ioniq 9 is Hyundai’s flagship vehicle.

The drive was similar to the Kia EV9, which is obviously a good thing. The big vehicle has solid electric acceleration, and Hyundai has done great work with the suspension to make this heavy car feel light on its toes. But Hyundai has made efforts to make the drive even smoother and quieter. The foam-filled tires, soft suspension, acoustic glass, and active noise cancellation all make the ride feel like floating rather than driving.

Front-row seats are not only spacious but also offer ample comfort and legroom. Also, there’s plenty of legroom in the second row (42.8 inches) and spacious third row (32.0 inches). Did I mention this is a big vehicle?

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What stands out to me on the interior is the flat floor enabled by the E-GMP battery and remarkably long wheelbase (3,130mm / 123.2 inches). It doesn’t feel like an SUV inside, it feels like a big minivan (oxymoron noted). While many folks are embarrassed to be seen in a minivan, nothing beats the configuration internally for trips and driving more than 4 people around – so the comparison is fully complimentary.

Hyundai obviously kitted us out with their top-end interiors, and they definitely felt sporty and luxurious.

Frunk

The Frunk o the Ioniq 9 isn’t anything to write home about and one of the few downsides to this vehicle. Hyundai of course says that their customers don’t want it, just like the bigger Frunk-maker’s say that their customers love it. For better or worse, it is a great place to put some charging cables, a tire inflator kit or some valuables but don’t expect it to be used frequently like a Tesla/Rivian or F-150/Silverado Frunk for groceries and general purpose cargo.

I really love the look of the Ioniq 9, which the company says is shaped like a sailboat hull with its big taper at the back. That also gives the Ioniq an otherworldly low drag coefficient of 0.259. That, along with the big 110kWh battery and Hyundai’s always efficient EVs, gets this thing to 335 miles for the RWD version. The performance AWD variant only drops down to 311 miles, a hit worth taking.

That range and the spacious interior mean that this is a great road trip EV. AWD versions can even tow up to 5000lbs. HMG’s software adjusts range predictions based on towing. Aerodynamics and efficiency of the trailer will all determine how much range is sacrificed but with over 300 miles to start with, odds are it will get you where you are towing.

NACS charging

The Ioniq 9 is one of the first non-Tesla EVs to come standard with a NACS charger, meaning it can natively charge at most Tesla Superchargers. Hyundai also includes an adapter so it can charge at CCS Combo stations and use a J-1772 Level1/2 charger.

Exterior

I am torn on the exterior look of the Ioniq 9. I love the shape, which Hyundai says is reminiscent of the aerodynamic hull of a sailing ship. I love the pixel lights that have become iconic in Hyundai’s EV lineup. Even the overall silhouette, something that Hyundai calls “Aerosthetic”—a harmonious blend of aerodynamics and aesthetics— is pretty incredible.

But I don’t love some of the design ornaments–like the cutout pieces over the front and back wheels. While I realize that seems like a nit-pick, I can’t unsee it. It is more subdued in the darker colors, however.

Pricing: starts at $58,955 for the RWD S trim and goes up to $76,490 for the Performance Calligraphy Design AWD trim. Eligible for $7500 Federal tax credit and various state/local and utility discounts.

Electrek’s take

I really love this take on the 3rd row electric SUV. Would I take the Ioniq 9 off-road like a Rivian? No. Does it accelerate like a Telsa Model X? No.

However, it does everything most third-row SUV owners expect, and it does it quietly and effortlessly. For those looking for a luxurious 3-row electric SUV with an interior that rivals the comfort of a minivan, you have to put the Hyundai Ioniq 9 at the top of your list.

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Honda pulls the plug on its larger electric SUV, but that’s not all

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Honda pulls the plug on its larger electric SUV, but that's not all

That larger Honda electric SUV may be a pipe dream after all. Honda follows Ford, Toyota, and other automakers in adjusting major EV plans in the US.

Honda scraps plans for a larger electric SUV

Although Honda’s first electric SUV, the Prologue, was one of the top-selling EVs in the US last year, the Japanese automaker is preparing for a slowdown.

Thanks to the Trump Administration’s recently passed “Big, Beautiful Bill,” which kills off the $7,500 federal tax credit at the end of September, Honda expects lower demand for EVs.

According to a new Nikkei report, Honda is now scrapping plans for its larger electric SUV in the US, its largest market. Instead, the company will focus on hybrid vehicles, similar to recent moves from Ford, Toyota, and others.

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Honda’s larger electric SUV was due to be released around 2027, about the same time as Ford and Toyota’s three-row EV SUVs. The upcoming Honda 0 Series electric SUV and sedan are still set to arrive starting next year.

We got a sneak peek of the midsize electric SUV in April after a camouflaged prototype made its debut on the streets of Tokyo for the first time.

Honda announced earlier this year that it is reducing its planned EV investments by $21 billion through 2030, as it expects lower demand. Like Ford and Toyota, Honda will focus on hybrids in the meantime.

Honda-larger-electric-SUV
Honda 0 SUV (Source: Honda)

In a separate report on June 20, Nikkei claimed that Honda and Nissan were considering a new US partnership just months after their global tie-up fell through.

Electrek’s Take

Honda is one of the few Japanese automakers to gain some momentum in the US EV market, but scrapping plans for the bigger model could put it behind rivals like Hyundai and Kia.

Through the first half of the year, Honda has sold over 16,300 Prologues in the US. In comparison, Toyota sold just over 9,200 bZ4X models.

Even Acura’s EV is seeing significantly more demand than expected. Acura sold 10,355 ZDX models in the first half of 2025, outpacing the Cadillac Lyriq, which is based on the same platform. Earlier this year, Mike Langel, vice president of national sales for Acura, told Automotive News that the company expected to sell around 1,000 ZDX models a month this year.

Honda, like most of the auto industry, is bracing for a shakeup as the Trump Administration rolls back EV incentives, putting the US on track to lag even further behind leaders like China.

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Paris’ popular bike share program has a big sticky finger problem

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Paris' popular bike share program has a big sticky finger problem

Paris’ bike-share system, Vélib has long been considered one of the shining success stories of urban micromobility. With a massive fleet of over 20,000 pedal and electric-assist bicycles around Paris, the service has helped millions of residents and tourists get around the City of Light without needing a car or scooter. But lately, a growing problem is threatening to knock the wheels off this urban mobility marvel: theft and joyriding.

According to city officials and the service operator, more than 600 Vélib bikes are now going missing every single week. That’s over 30 bikes a day simply vanishing from the system – some stolen outright, others taken on “joy rides” and never returned.

“At the moment we’re missing 3,000 bikes,” explained Sylvain Raifaud, head of the Agemob company that currently operates the Velib system. That’s nearly 15% of over 20,000 Vélib bikes across Paris.

The sticky-fingered culprits aren’t necessarily professional thieves or organized crime rings. Instead, they’re often regular users who treat the shared bikes like disposable toys.

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The city estimates that many people have figured out how to pry the bikes out of the system’s parking docks, unlocking one for a casual cruise and then ditching it somewhere far from a docking station.

Once pried free, the bikes are technically usable for the next 24 hours until their automatic locking feature kicks in. At that point, the bikes are often simply abandoned. Some end up in alleyways. Others get tossed in rivers. A few just disappear completely.

And since the bikes are intended to be parked at their many docking stations around the city, they don’t have GPS chips, further complicating recovery of “liberated” bikes.

The issue started small but has grown into more than an inconvenience – it’s beginning to undermine the entire purpose of the service. With bikes going missing at such a high rate, many Vélib docking stations are left empty, especially during rush hours.

Riders looking for a quick commute or a convenient hop across town are increasingly finding themselves without available bikes, or having to walk long distances to find a functioning one.

That kind of unreliability chips away at user confidence and threatens to drive potential riders back into cars, cabs, or other less sustainable forms of transport at a time when Paris has already made great strides to dramatically reduce car usage in the city.

The losses are financially painful, too. Replacing stolen or vandalized bikes isn’t cheap, and the resources spent on tracking down missing equipment or reinforcing anti-theft measures are stretching thin. Vélib has faced theft and vandalism issues before, especially during its early years, but this latest surge has officials sounding the alarm with renewed urgency.

Officials acknowledge that there’s no easy fix. Paris, like many cities with bike-share systems, walks a fine line between accessibility and accountability. Part of what makes Vélib so successful is its ease of use and widespread availability. But those same features make it vulnerable to misuse – especially when enforcement is limited and the consequences for abuse are minimal.

The timing of the problem is especially unfortunate. In recent years, Paris has seen impressive results in reducing car traffic, expanding bike lanes, and promoting cycling as a key part of its sustainable transport strategy. Vélib is a cornerstone of that plan. But if the system becomes too unreliable, it risks losing the very people it was designed to serve.

Meanwhile, as Parisians increasingly find themselves staring at empty docks, the challenge for the city and Vélib will be to restore confidence in the system without making it harder to use. That means striking the right balance between freedom and responsibility, between open access and protection against abuse.

In a city where cycling is supposed to be the future of mobility, losing thousands of bikes to joyriders and sticky fingers isn’t just frustrating; it’s unsustainable.

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