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Prince Abdulaziz bin Salman at the World Petroleum Congress in Calgary, Canada, on Sept. 18, 2023.

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Saudi Arabia’s energy minister said Riyadh and Moscow’s decision to extend crude oil supply cuts is not about “jacking up prices,” as Brent futures hover near $95 a barrel and analysts predict further rises into triple digits.  

“We can reduce more, or we can increase, that has been a subject that we want to make sure that the messaging is clear, that it’s not about, again, this jacking up prices,” Saudi Energy Minister Prince Abdulaziz bin Salman said Monday at the World Petroleum Congress in Calgary.

“It’s about … making the decision at the right time, when we have the data, and when we have the clarity that would make us in much more of a comfort zone to take that decision.”

Some members of the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, are implementing 1.66 million barrels per day of combined voluntary declines — which falls outside of unanimously agreed OPEC+ policies — until the end of 2024. Topping this, Saudi Arabia and Russia announced they will apply respective voluntary declines of 1 million barrels per day of production and 300,000 barrels per day of exports until the end of the year.

Saudi Arabia is the world’s largest seaborne oil exporter and relies on hydrocarbon revenues to support so-called giga-projects designed to diversify its economy.

Saudi energy minister defends OPEC+ supply cuts as oil prices surge

Shrugging off the inertia of the first half of the year, oil prices have gained ground amid supply cut announcements in recent months, as the market braces for a potential volume deficit in the latter part of 2023. Ice Brent crude futures with November delivery were trading at $95.00 per barrel at 9:19 a.m. London time Tuesday, up 57 cents per barrel from the Monday close price. Front-month October Nymex WTI futures were at $92.65 per barrel, up $1.17 per barrel from the Monday settlement. The increases have rallied some analysts around speculation of a short-term return to oil prices at $100 per barrel.

Asked on the possibility of hitting that threshold, Chevron CEO Mike Wirth on Monday admitted oil prices could cross into triple digits in a Bloomberg TV interview.

“Sure looks like it. We’re certainly moving in that direction. The momentum, you know, supply is tightening, inventories are drawing, these things happen, gradually you can see it building. And so I think, you know, the trends would suggest we’re certainly on our way, we’re getting close,” he said, acknowledging an impact on the world economy. “I think the underlying drivers to the economy in the U.S. and frankly globally remain pretty healthy. I think it’s a drag on the economy, but one that thus far, I think the economy has been able to tolerate.”

Energy prices have repeatedly underpinned higher inflation in the months since the war in Ukraine and Europe’s gradual loss of access to sanctioned Russian seaborne oil supplies.

Peak feud

Abdulaziz once more struck out at Paris-based watchdog the International Energy Agency, whose Executive Director Fatih Birol last week said in a Financial Times op-ed that “the IEA was wary of such premature calls, but our latest projections show that the growth of electric vehicles around the world, especially in China, means oil demand is on course to peak before 2030.”

“None of the things that they were warning about has happened. And name me any time that their forecasts were as accurate as one would have hoped for. But, you know, they’ve moved now from being forecasters and assessors of market to one of political advocacy,” Abdulaziz said Monday.

The IEA did not immediately respond to a CNBC request for comment.

Amin Nasser, CEO of Saudi state-controlled oil giant Aramco, likewise on Monday said that the notion of peak oil demand is “wilting under scrutiny,” noting “many shortcomings in the current transition approach that can no longer be ignored” and stressing that carbon capture “can no longer be the bridesmaid of transition.”

The comments come two months ahead of a pivotal session of the United Nations climate change conference, which is set to controversially convene on the territory of major oil producer the United Arab Emirates, starting on Nov. 30.

Climate change positioning has been a key hurdle of the increasingly fraught relationship between Saudi Arabia and the IEA — in a landmark 2021 report, the energy watchdog argued for no investment in new fossil fuel supply projects, if the world is to stave off an incoming climate crisis. Riyadh meanwhile champions a dual approach to decarbonization with simultaneous investment in oil and gas and renewables, in a bid to avoid an energy deficit.

U.S. stance

Higher prices at the pump have historically put pressure on the administration of U.S. President Joe Biden, which in October last year waged an intense war of words over the OPEC+ production strategy that levied accusations of coercion against Riyadh.

But Washington has stayed comparatively silent over the latest OPEC+ reductions, even as Biden mounts his campaign for re-election next year. The U.S. must balance domestic interests against foreign policy objectives to normalize relations between Israel and Saudi Arabia, while Riyadh has increasingly slipped Washington’s influence after resuming ties with Iran in China-brokered diplomacy earlier this year and earning an invitation to the China and Russia-backed emerging economies group BRICS in August.

In a further blow to the U.S., Saudi Arabia remains tightly bound to Western-sanctioned OPEC+ heavyweight producer Russia. Most recently, the Kremlin said Russian President Vladimir Putin and Saudi Arabia’s Crown Prince Mohammed bin Salman spoke by phone on Sept. 6 and “noted that specific agreements on reducing oil production, combined with voluntary obligations to limit raw materials deliveries, made it possible to stabilize the global energy market.”

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Aventon Abound SR smart cargo e-bike gets first discount to $1,799, Jackery Explorer 300 at $169, Rachio sprinkler controller, more

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August 13, 2025

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Aventon Abound SR smart cargo e-bike gets first discount to ,799, Jackery Explorer 300 at 9, Rachio sprinkler controller, more

Headlining our hump day Green Deals is Aventon’s final summer sale that is taking up to $500 in increased savings off e-bikes, including new models, with the Abound SR Smart Cargo e-bike getting its first-ever discount to $1,799. We also spotted Jackery’s Explorer 300 Portable Power Station falling to $169, as well as Rachio’s 3rd gen 8-zone Smart Sprinkler Controller also dropping back to $169. From there, we have additional savings a budget-friendly e-scooter, a new low on a pro-grade cultivator, dual one-day-only pressure washer/attachment deals, and more waiting for you below. Plus, all the hangover savings are at the bottom of the page, like yesterday’s exclusive new low price on Anker’s SOLIX F2600 power station bundle, or the brand’s PowerCore Reserve 60,000mAh station dropping to $80, and much more.

Head below for other New Green Deals we’ve found today and, of course, Electrek’s best EV buying and leasing deals. Also, check out the new Electrek Tesla Shop for the best deals on Tesla accessories.

Aventon’s final summer sale gives the new Abound SR smart cargo e-bike its first discount to $1,799, more from $1,199

Aventon has launched its final summer sale through September 3 with up to $500 being taken off its e-bike lineup, including increased savings on legacy models, and two of its newest smart models seeing price cuts. Alongside the second-ever discount on the new Pace 4 Step-Through e-bike, we’re seeing the first cash savings on Aventon’s Abound SR Cargo e-bike to $1,799 shipped. This smart commuting solution has been fetching $1,899 since hitting the market at the end of 2024, with discounts having been placed on its predecessor model (currently down at $1,599). This is the first time we’ve spotted any savings being attached to this model, setting the bar for future discounts. Head below to learn more about it or to check out the full lineup of deals during this sale.

The new Aventon Abound SR e-bike takes all that we love about its predecessor and steps up the game with smarter features. To start, there is a 750W rear hub motor (1,188W peak) paired with a 733Wh battery (which you can conveniently unlock and remove without keys via the LCD screen) that provides you with up to a 60-mile travel range at up to 20 MPH speeds (that can be adjusted to 25 MPH). There are three riding modes available here, with the added Ride Tune customization letting you alter their performances to suit your preferences.

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There are some great structural features like the Tektro hydraulic disc brake system, the 8-speed Shimano Altus derailleur, and the rear cargo rack with an increased 143-pound payload, but what really makes this cargo hauler truly special is the large array of new features we’ve only seen on the latest releases. First, there’s the Sensor Switch tech, allowing you to choose between a cadence sensor and a torque sensor as you ride, as well as other in-ride functions like cruise control, a boost mode to increase power for steep hills, and even a hold mode when you’re on said inclines and don’t want the bike rolling backwards. Of course, there’s also the security measures in the form of a startup password, an integrated kickstand lock, and in-app geofencing settings, which cuts the power and sends you alerts should it ever leave your designated areas.

If you want to check out the full lineup of e-bike deals, be sure to check out our original coverage of this sale here.

jackery's explorer 300 power station sitting on picnic table charging drone and camera

Jackery’s Explorer 300 power station is a compact companion keeping your personal devices running for $169

By way of its official Amazon storefront, Jackery is offering its compact Explorer 300 Portable Power Station for $169 shipped, beating out its pricing directly from the brand’s website by $70. While it carries a $279 MSRP from the brand, it keeps down at a $259 full price tag here at Amazon, with discounts having kept the costs even lower between $199 and $169 over 2025, with a one-time appearing $159 low back during Prime Day. Aside from that short-term discount, you’re otherwise looking at another shot at the best price we have tracked, which gives you an easy-to-manage compact backup power solution with $90 in savings ($110 off the MSRP). Head below for more on this model and its bundle options.

If you want to learn more about this power station, be sure to check out our original coverage of this deal here.

rachio 8-zone smart sprinkler controller with phones displaying app-based controls

Streamline your water system with smart controls through Rachio’s 8-zone sprinkler controller at $169

Amazon is now offering the Rachio 3rd Gen 8-zone Wi-Fi Smart Sprinkler Controller at $169 shipped. While it may carry a $230 MSRP, we’ve been seeing it keep down to $200 at full price here at Amazon. Aside from the short-term Prime Day discounts, which first took the price down to $165 before falling to $160, this is the best rate we’ve seen since mid-March. While it’s gone as low as $143 in the past, you’re still looking at a solid $31 off the going rate ($61 off the MSRP) that lands it among the best prices we’ve tracked in 2025.

If you want to learn more about this 8-zone device, be sure to check out our original coverage of this deal here.

man aerating garden soil with greenworks pro 80V 10-inch cordless cultivator

Take advantage of up to 50% off this pro-grade 80V Greenworks cordless cultivator at a new $175 low

Amazon is offering the Greenworks Pro 80V 10-inch Cordless Cultivator at $174.99 shipped, which beats out its tool-only option that is sitting $75 higher in price. While this package carries a $400 MSRP, which is where it’s currently priced on the brand’s direct website, it is now 50% off the price we have been tracking on Amazon since the spring and is now at the lowest price we have tracked all-time.

If you want to learn more about this pro-tier model, be sure to check out our original coverage of this 50% deal here.

man riding gotrax apex xl electric scooter through walkway

Get a budget-friendly commute to your college or work on Gotrax’s APEX XL e-scooter at its $235 low

Amazon is offering the Gotrax APEX XL Electric Scooter at $234.90 shipped. While it carries a $349 price tag, we’ve been seeing it keep more at $320 at Amazon lately, with discounts having mostly kept the costs above $243, with one previous fall to this same rate at the end of July. That low price is coming back around here, with the 27% markdown cutting $85 off the going rate for the best price we have tracked – and just in time to cover any last-minute back-to-school commuting needs.

If you want to learn more about this e-scooter’s capabilities, be sure to check out our original coverage of this deal here.

man clearing driveway with greenworks 1900 PSI electric pressure washer

Greenworks’ framed 1,900 PSI electric pressure washer hits $120 with the 12-inch cleaner attachment at $25 (Today only)

As part of its Deals of the Day, Best Buy is offering back-to-back discounts on Greenworks’ 1,900 PSI Electric Pressure Washer for $119.99 shipped, while also offering the add-on 12-inch Surface Cleaner Attachment at $24.99 shipped (more on this below the fold). This pressure washer normally goes for $200 at full price, with it currently out of stock at Amazon and only down to $150 directly from the brand’s website. While we have seen it go as low as $118 before in a one-time discount back in April, you’re otherwise looking at the best price we have tracked, giving you a reliable means to tackle outdoor cleaning with $80 savings.

If you want to learn more about this model or the attachment, be sure to check out our original coverage of this one-day-only deal here.

Best Summer EV deals!

Best new Green Deals landing this week

The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.

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Kia’s first electric van ‘unboxed’ and ready to take on the world

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August 13, 2025

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Kia's first electric van 'unboxed' and ready to take on the world

Kia's-first-electric-van-unboxed

The PV5, Kia’s first electric van, was “unboxed” after arriving in parts of Europe this week. After opening pre-orders in new markets, the PV5 is ready to take on the world.

Kia’s first electric van unboxed in Europe

It’s not just a futuristic-looking electric people mover, but the PV5 is the first van from Kia’s new Platform Beyond Vehicle (PBV) business.

Kia opened pre-orders for the PV5 in the UK earlier this year, starting at £32,995 ($44,000). Now, it has officially arrived in a few more European markets.

The PV5 went on sale with pre-orders opening in Germany, France, Belgium, Sweden, and other global markets. In Germany, the PV5 Passenger is priced from €38,290 ($45,000) or €249 per month. In France, it starts at €39,550 ($46,300).

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Kia Sweden posted a video on social media of the PV5 arriving on a car carrier with the caption “Unboxed, washed, and ready to face the world!”

Kia’s electric van is available in Passenger (for everyday use) and Cargo (for businesses) with various seating options.

The PV5, Kia’s first electric van, arrives in Sweden (Source: Kia Sweden)

The PV5 Passenger is offered with two battery packs: 51.5 kWh and 71.2 kWh, rated with WLTP ranges of 179 miles and 249 miles, respectively. Although it has the same battery pack options, the Cargo variant is rated with ranges of 181 miles and 247 miles.

During its PV5 Tech Day last month, Kia announced plans to launch seven PV5 body types, including a Light Camper, an Open Bed (similar to a pickup), and a premium “Prime” version.

Kia's-first-electric-van-unboxed
Kia PV5 tech day (Source: Kia)

After launching the PV5 in its home market, Kia will begin delivering the vehicle in Europe and other global markets over the next few months.

For those in the US, Kia has yet to say if it will launch the PV5 in the States. It was spotted testing in the US again last month, but it would face hurdles due to Trump’s tariffs on imported vehicles from South Korea.

Kia builds all PBVs at its Hwaseong EVO plant in South Korea. The plant can produce up to 150,000 units a year. In its first full sales year, Kia aims to sell around 3,000 to 4,000 PV5s. Kia will expand its electric van lineup with the larger PV7 in 2027 and PV9 in 2029.

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Nissan cuts Ariya EV prices by over $8,000 with a new entry-level model

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August 13, 2025

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Nissan cuts Ariya EV prices by over ,000 with a new entry-level model

Nissan-cuts-Ariya-prices

The Nissan Ariya just got a lot cheaper. Nissan lowered Ariya prices by over $8,000, thanks to a new base model and federal grants.

Nissan slashes Ariya prices with new base model

Nissan claims “this is just the beginning” with its new lineup of electric vehicles, including the next-gen LEAF, set to launch soon.

Although the Ariya was one of 19 vehicles eligible for the UK’s new electric car grant, Nissan is making it even more affordable.

Since it was priced above the £37,000 ($50,000) threshold, the Ariya was only eligible for the partial £1,500 ($2,000) grant.

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Nissan wasted no time introducing a new Ariya Shiro entry-level model on Wednesday so that it will qualify. Starting at £33,500 ($45,500) with the grant, the latest variant is over £6,000 ($8,100) cheaper than the old base model, which started at £39,645 ($53,800).

The new Ariya model is equipped with the smaller 63 kWh battery, which is good for a WLTP range of 251 miles (400 km).

Nissan-cuts-Ariya-prices
Nissan Ariya (Source: Nissan UK)

Even the longer-range Ariya falls under the threshold after Nissan reduced prices. Starting at £35,500 ($48,200), including the grant, the larger 87 kWh battery provides up to 329 miles of range. Only two Ariya models don’t qualify for the Electric Car Grant: the e-4ORCE AWD and Nismo variants.

Nissan’s UK marketing director, Fiona Mackay, said, “And this is just the beginning,” with several highly anticipated EVs about to roll out.

Nissan-cuts-Ariya-prices
Nissan Ariya (Source: Nissan UK)

After introducing the electric Micra earlier this month, Nissan will launch the new LEAF later this year, followed by the electric Juke in 2026. All will be built at its Sunderland, UK, plant.

The Micra EV is also eligible for the grant, bringing prices down to just £21,495 ($29,200). Nissan’s UK head of sales told Autocar that the next-gen LEAF is in a “strong position” to receive the higher £3,750 ($5,000) grant.

Nissan-new-LEAF-EV
2026 Nissan LEAF (Source: Nissan

For those in the US, Nissan is also offering big savings opportunities ahead of the $7,500 EV tax credit deadline, which expires at the end of September.

In California, the 2025 Nissan Ariya ENGAGE FWD is listed for lease starting at just $179 per month. Offers vary by region, but in several other states, it’s available from $329 per month.

Ready to test it out for yourself? We can help you get started. You can use our link to find deals on the Nissan Ariya in your area (trusted affiliate link).

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