OPEC chief says the search is on for new members of the oil producers’ group
Haitham al-Ghais, secretary-general of the Organization of Petroleum Exporting Countries (OPEC), speaking at the Energy Asia Summit on June 26, 2023.
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The secretary-general of the Organization of Petroleum Exporting Country signaled that the influential producers’ alliance is actively open to recruiting new members.
Asked if he is trying to expand the OPEC coalition, the organization’s Secretary-General Haitham al-Ghais told reporters on Wednesday: “I am, yes.”
The organization currently has 13 members, predominantly based in the Middle East, North and West Africa and South America. At stake for the group of oil producers is a battle to reconcile an outlook of tighter crude supply in the second half of the year, current macroeconomic worries, and inflationary concerns. OPEC members coordinate the amount of oil they output in an effort to influence prices.
Ecuador exited the group in 2020 because of political circumstances, but in May was invited to rejoin the OPEC ranks, according to a letter from al-Ghais shared by the Ecuadorian energy ministry.
“The Organization sees as a top priority that Ecuador joins the OPEC family again,” the letter said. The Ecuadorian ministry did not reveal its response.
Al-Ghais would not be drawn into disclosing the names of potential new members. He mentioned recent visits paid to oil-producing countries, however, including allies that currently implement a joint production strategy with OPEC countries, in a group known as OPEC+.
“I was in Malaysia, I was in Brunei,” he said, stressing that he had not necessarily invited these countries to join the organization. “I was in Azerbaijan, I was in Mexico.”
Previous speculation about Guyana’s potential membership saw OPEC state in late June that, while the South American country is “an emerging player in the international oil market with significant potential,” it had not been invited to join.
Asked about the requirements to become an OPEC member, al-Ghais said: “They have to be a net [oil] exporter, substantial, they have to have similar goals as OPEC. This is all mentioned very clearly in our statute. And I think many countries that I just named actually fit this profile. So … work in progress.”
Unanimity
The OPEC secretary-general addressed reporters following an OPEC seminar conference in Vienna, where energy and oil ministers met on the sidelines.
No new policies were announced, but ministers expressed appreciation for the additional oil production cuts of OPEC+ members Saudi Arabia, Russia and Algeria.
On Monday, Saudi Arabia announced that it would extend its voluntary 1-million-barrels-per-day cut initially outlined for July into August, while fellow heavyweight Moscow said it would trim its exports by 500,000 barrels per day next month. Algeria also said it will reduce its production by 20,000 barrels per day in August.
All three countries and several other OPEC+ members in April declared a separate set of output cuts totaling over 1.6 million barrels per day, which they have extended until the end of 2024.
Al-Ghais emphasized that the voluntary reductions enacted by some OPEC+ did not suggest divisions in the policy views of coalition members.
“When people can sit down and go through an agreement that goes all the way through, with a clear vision, into 2025, I think that’s a sign of unanimity,” he said.
“These are sovereign country decisions. They are extra. We appreciate them … It does not in any way insinuate that there is a fragmentation.”
Focus on investment
Echoing the comments of other OPEC officials, al-Ghais has also been advocating for simultaneous joint investment in fossil fuel projects and in renewables, in an effort to avoid energy supply deficits. Despite what he perceives as global underinvestment in hydrocarbons, he said that the OPEC alliance can still answer any potential supply crisis.
“Part of the decision to reduce production is also good because it gives us more spare capacity, and OPEC has always managed to step up in case of any shock globally,” al-Ghais said.
“Spare capacity is tight, I would say … And our countries are investing. When I talk about underinvestment, most of our countries, if not all of them, are investing … But it’s a global responsibility. OPEC cannot shoulder this on its own. We have to have everybody step up.”
Suhail al-Mazrouei, energy minister of the United Arab Emirates, likewise stressed focus on investment and availabilities.
“What’s important is not the price, what’s important is the level of investments that are coming to the market to balance the longer or the medium-term view of the supply,” he told CNBC’s Dan Murphy on Wednesday. “If something worries me, that’s what worries me, the medium to long-term supply. Not the demand.”
The International Energy Agency in May foreshadowed an intense supply crunch, noting “tighter market balances we anticipate in the second half of the year, when demand is expected to eclipse supply by almost 2 mb/d.”
Ava Community Energy just rolled out a new program in California that pays EV and plug-in hybrid drivers for charging their cars when electricity on the grid is cleaner and cheaper.
The new Ava SmartHome Charging program, launched in partnership with home energy analytics platform Optiwatt, offers up to $100 in incentives in the first year. And because the program helps shift home charging to lower-cost hours, Ava says drivers could save around $140 a year on their energy bills.
EV and PHEV owners who are Ava customers can download the Optiwatt app for free, connect their vehicle, and let the app handle the rest. The app uses an algorithm to automatically schedule charging when demand is low and more renewable energy is available, typically overnight or during off-peak hours.
“Ava is on a mission to provide 100% clean energy to our customers by 2030,” said CEO Howard Chang. “This new program helps us get there by giving people an easy way to charge on more renewable energy while simultaneously saving money.”
Drivers who enroll get a $75 bonus for joining, and can earn an extra $25 per year if they stay enrolled. Optiwatt shifts charging to off-peak times, and it takes into account the customer’s individual schedules and preferences.
Casey Donahue, who founded Optiwatt, says this program is a win for everyone. “We can move a lot of energy use to cleaner, more affordable times by using smart algorithms and the growing EV base,” he said. “That benefits every Ava customer.”
The program is available to most EVs and plug-in hybrids. All it takes is signing up through the Optiwatt app (iOS, Android, or web) and completing a quick verification process. Savings and rewards start right away.
The Oakland-based not-for-profit public power provider aims to enroll at least 5,000 vehicles by the end of 2025. The company says this program is the first step in a broader virtual power plant (VPP) strategy. It’s powered by Lunar Energy’s Distributed Energy Resource Management System (DERMS) platform, Gridshare, which will help Ava coordinate energy from EVs, home batteries, and more.
Ava Community Energy was founded in 2018 and now serves 2 million people in Alameda County, California, and the cities of Tracy, Stockton, and Lathrop.
Read more: California now has nearly 50% more EV chargers than gas nozzles
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Environment
Jeep is teasing the new Grand Cherokee, but where’s the EV version of its best-selling SUV?
The Grand Cherokee is due for a refresh, and we just got our first look at it. Jeep claimed “the next chapter in the story of America’s best-selling full-size SUV begins” after releasing the first official images of the updated model. When will we see the Jeep Grand Cherokee as an EV?
2026 Jeep Grand Cherokee first look
Days after revealing the new Compass, Jeep is teasing another refreshed model, its best-selling Grand Cherokee.
Although it was the best-selling full-size SUV in the US last year, the Grand Cherokee is due for an update. The latest model was launched in 2021, but Jeep added a two-row version in 2022.
It remained Jeep’s top seller in the US last year with over 216,000 models sold, but sales were down 12% compared to 2023. It was also one of the best-selling plug-in hybrid (PHEV) vehicles, with over 27,500 4xe models
Jeep is giving us our first official look at the updated 2026 Grand Cherokee, inside and out. The first image previews the front end, which features new LED headlights and a revamped seven-slot grille, similar to the new Compass.
The interior is restyled with a simplified setup and other minor infotainment and climate control display adjustments. The preview also shows an added passenger screen.
When will Jeep launch the Grand Cherokee EV?
Jeep will continue to assemble the updated SUV in Detroit. The new 2026 Jeep Grand Cherokee will be available as a two-row, three-row L, and a plug-in hybrid 4xe, but when will we see an EV version? The outgoing 4xe model is already one of the top three selling PHEVs in the US, so a fully electric version would make sense.
As part of its 2023 agreement with the UAW, Jeep revealed plans to launch the Grand Cherokee EV in 2027. It was scheduled to be built at the Detroit Assembly Complex, but plans have likely changed since then.
Jeep’s new Compass will be available as an EV, but only in Europe. At least for now. Stellantis halted operations at its Brampton Assembly plant earlier this year, where the Compass is built, as it “reassesses its product strategy in North America.”
For those in the US, Jeep currently offers one EV. The Wagoneer S (pictured on the left above), Jeep’s first global electric SUV, starts at $65,200 and has a range of up to 294 miles.
Later this year, Jeep is expected to launch the Recon EV (pictured on the right above), a rugged electric SUV like a Wrangler.
Jeep is currently offering employee pricing plus an extra $1,500 cash allowance on top of the $7,500 EV tax credit on 2025 Wagoneer S models. If you’re looking to snag some savings, you can use our link to find Jeep Wagoneer S models in your area today.
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Can Kia’s first electric sedan live up to the hype? After launching the EV4 in Korea, we are finally seeing it in action. A new test drive of the EV4 gives us a closer look at what to expect as Kia prepares to take it global. Here’s how it went down.
Kia EV4 test drive: The good, the bad, and the ugly
Kia claims the EV4 will “set a new standard in electric vehicles” with long-range capabilities, fast charging, and a sleek new design.
The electric sedan features a unique, almost sports-car-like profile with a long-tail silhouette and added roof spoiler.
Kia claims it is “the new look of a sedan fit for the era of electrification.” Despite its four-door design, the company is calling it a new type of sedan.
The design is not only eye-catching, but it’s also super efficient. With a drag coefficient of just 0.23, the EV4 is Kia’s most aerodynamic vehicle so far, enabling maximum driving range and efficiency.
Kia opened EV4 orders in South Korea in March, starting at about $29,000 (41.92 million won). It’s available with two battery options: 58.2 kWh and 81.4 kWh. The entry-level “Standard Air” model, powered by the 58.2 kWh battery, is rated with up to 237 miles of driving range.
The “Long-Range Air” variant starts at 46.29 million won ($31,800) and has a driving range of up to 331 miles (533 km) in Korea.
With charging speeds of up to 350 kW, the EV4 can charge from 10% to 80% in around 29 minutes. The long-range battery will take about 31 minutes.
The interior boasts Kia’s latest ccNC infotainment system with a 30″ Ultra-wide Panoramic Display. The setup includes dual 12.3″ driver displays, navigation screens, and a 5″ air conditioning panel.
With deliveries kicking off, we are seeing some of the first test drives come out. A review from HealerTV gives us a better idea of what it’s like to drive the EV4 in person.
Sitting next to Kia’s first pickup, the Tasman, the reviewer mentions the EV4 feels “particularly newer.” The test drive starts around the city with a ride quality similar to that of the K5, if not even better.
As you can see from the camera shaking, the ride feels “a bit uncomfortable” on rough roads. However, on normal surfaces and speed bumps, Kia’s electric sedan “feels neither too soft nor too hard,” just normal. The reviewer calls the EV4’s overall ride quality “quite ordinary” with “nothing particularly special about it.”
When accelerating, the electric car was smooth in the beginning but felt “a little lacking in later stages.” Overall, it should be enough for everyday use.
One of the biggest issues was that the rear window appeared too low. The rear brake lights also stick out, making it hard to see clearly through the rearview.
Keep in mind that the test drive was the Korean-spec EV4. Kia will launch the EV4 in Europe later this year and in the US in early 2026.
In the US, the EV4 will include a built-in NACS port for charging at Tesla Superchargers and a driving range of up to 330 (EPA-est) miles. Prices will be revealed closer to launch, but the EV4 is expected to start at around $35,000 to $40,000.
Would you buy Kia’s electric sedan for around $35,000? Or would you rather have the Tesla Model 3, which starts at $42,490 in the US and has up to 363 miles of range? Let us know in the comments.
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