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Aerial view of oil and gas jack-up rig at the yard for maintenance with many vessels in Singapore. Oil prices saw three consecutive weekly declines last week, marking the longest losing run this year.

Chain45154 | Moment | Getty Images

The recent slide in oil prices is starting to bottom out, according to analysts who predict that a more significant pickup in the coming quarters is in the cards.

Oil prices saw their third consecutive weekly decline last week, marking the longest losing run this year. However, that may soon come to pass, according to some market watchers.

“Now it definitely feels like they’re at the bottom — there are multiple signs of that,” said Citi’s Global Head of Commodities Research Ed Morse.

“Inventories built a lot during the first and second months of the year, and then they’ve come off. So that’s part of figuring that it’s at the bottom.”

He added that markets are currently facing the impact of OPEC+’s recent production cuts, and the world is moving into a higher demand season. Last month, the oil cartel announced it was slashing output by 1.16 million barrels per day. The cuts came into effect in May and will run until the end of 2023. The production declines prompted some analysts to warn prices could surge to triple digits, which failed to materialize.

“We’re looking more positively at the second and third quarter than what’s happened in the first quarter,” Morse said.

Financial services company ANZ also believes that the oil slump could bottom out soon, with global oil demand set to grow by 2 million barrels per day, keeping the market under-supplied throughout 2023.

A tightening oil market in H2 2023 will now rely more heavily on OPEC+, particularly Russia.

Vivek Dhar

Commonwealth Bank of Australia

“OPEC+ output cuts and a rebound in China’s demand will likely offset slower demand elsewhere … Therefore, we expect prices to bottom out soon,” the bank wrote in a research report dated May 8.

Similarly, Goldman Sachs has maintained its forecasts for a higher crude oil price tag.

“Our forecast remains that Brent rises to $95 per barrel by December and $100 per barrel by April 2024 as we expect large deficits in H2,” the investment bank stated in a report released over the weekend.

Global benchmark Brent traded 1.74% higher at $76.61 a barrel Monday, while the U.S. West Texas Intermediate futures stood 1.92% at $72.71 per barrel.

Oil’s sharp slide

Brent had slipped 8% year-to-date by last Friday. On Wednesday, the benchmark posted a close of $72.33, marking the lowest since December 2021, according to data from Refinitiv. On a similar vein, West Texas Intermediate has seen a 11% year-to-date fall.

The slip in prices is attributed to a confluence of economic concerns.

Last Wednesday, the U.S. Federal Reserve hiked interest rates by a quarter of a percentage point, raising investors’ concerns that slower economic growth could dent energy demand.

“Pressure from anti-inflationary action undertaken by both the U.S. Fed and the ECB [European Central Bank], have resulted in lackluster demand growth for most of the OECD, with recession risks lying ahead,” Morse wrote in an e-mail.

Last month, OPEC+ announced it was slashing output by 1.16 million barrels per day. The cuts came into effect in May and will run until the end of 2023.

Bloomberg | Getty Images

Additionally, a surprise contraction in China’s April manufacturing activity also threw a shade of doubt over the recovery of the country’s commodity demand.

“The narrative that oil markets will tighten later this year because of rising Chinese demand is being challenged,” Commonwealth Bank of Australia wrote in a daily note dated May 8.

“A tightening oil market in H2 2023 will now rely more heavily on OPEC+, particularly Russia,” CBA’s Vivek Dhar wrote.

And Moscow’s oil production has proved more resilient than expected.

“Russia’s oil production and exports have been resilient despite their announcement production cut of 500,000 barrels per day,” said Kang Wu, S&P’s head of global demand and Asia analytics.

The recent slide is reminiscent of the downside volatility in March and “forces’ an evaluation of whether or not the OPEC will deliver another Saudi-led cut,” Mizuho’s Vishnu Varathan wrote in a note dated May 8.

But S&P’s Wu reckons there is still a “big uncertainty” as to what the cartel’s next move will be.

“Unless they see real demand destruction either due to a weakening economy or surging prices, they probably will hold on a bit longer to decide what to do.”

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Volkswagen’s Tesla Robotaxi rival gets put to the test in Wolfsburg

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Volkswagen's Tesla Robotaxi rival gets put to the test in Wolfsburg

Volkswagen is putting its Tesla Robotaxi rival through its paces in Wolfsburg, Germany, where the self-driving Gen.Urban research vehicle is now driving autonomously in real urban traffic – without a steering wheel or pedals!

VW’s Gen.Urban research project sets out to explore how passengers experience riding in a self-driving vehicle on real roads, among real drivers, and without a traditional steering wheel or pedals, and what those requirements might mean for future vehicle concepts.

Some of the key questions VW is asking include:

  • How do people spend their time in a self-driving vehicle?
  • Which digital features best support work, entertainment, or relaxation?
  • How should interaction between the vehicle and passengers be designed, particularly for older people or children?
  • Most importantly: Do people feel comfortable?

“The technology for autonomous driving is making rapid progress,” explains Dr. Nikolai Ardey, Head of Volkswagen Group Innovation. “With our Gen.Urban research vehicle, we want to understand exactly how passengers experience autonomous driving. Because: The key to a positive customer experience is to build trust – through meaningful interaction, a relaxed atmosphere, and intelligent assistance systems that respond precisely to the needs of passengers. Ultimately, technology should fit people, not the other way around. We will benefit from these insights across the entire Group in the long term.”

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Not QUITE fully autonomous


Gen.Travel concept; via VW, 2022

It’s important to note here that, while Volkswagen designed the Gen.Urban without a steering wheel or pedals, the vehicles participating in these test have a trained safety driver monitoring the vehicle from the passenger seat, ready to step in to control the vehicle using a specially developed control panel with a joystick – which means we’re still a long way from the 2022 Volkswagen Gen.Travel concept (above).

Even so, Volkswagen’s autonomous driving efforts have been in public testing phases since at least 2023, when the company unveiled a fleet of ten specially modified VW.Buzz AD electric vans. Tests with those vans have gone well enough, at least, to lead Volkswagen to announce plans for large-scale production.

The current test phase is limited to Volkswagen Group employees as riders, and is planned for a period of several weeks. If results are satisfactory, VW could expand its rider base by the end of Q1.

SOURCE | IMAGES: Volkswagen.


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Past classic that deserves an electric update: Honda Element

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Past classic that deserves an electric update: Honda Element

Ask anyone who owned or owns one, and they’ll tell you that Honda Element was ahead of its time, delivering a flexible interior, car-like ride, and SUV-levels of visibility – and, if Honda really wanted to, they could roll out an all-new, all-electric Element riding on an Ultium-style electric skateboard tomorrow.

Honda’s first Element made its debut way back in 2003, when it was still a bit strange to think of companies like Cadillac, Volkswagen, and Porsche selling anything as big and clunky as an SUV. It earned plenty of fans, however, and for all the same reasons, they’ll love an electric Element even more.

Consider the following:

Car-like handling


Ultium chassis; via GM.

The original Element rolled around on a lot of bits originally developed for the Honda Civic – widely regarded as a fun-to-drive, great-handling little car. That car-based chassis earned it some mockery among automotive journalists who, more than two decades ago, still widely believed that an SUV had to have some off-road chops to it.

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Today, we’re a more enlightened bunch. In 2025, an SUV needs to be practical above all else, emphasizing the “Utility” aspect. With a low-slung, low-cg, and low-intrusion electric skateboard underneath its boxy body (more on that in a minute), a modern Element would be than more than capable of delivering a “car-like” ride with plenty of sporty acceleration, as well.

Flexible interior


Honda Element
Element interior; via Honda.

Remember that comment about the low-intrusion nature of the Ultium EV chassis? Without a transmission tunnel to get in the way, Honda was able to offer a massive, flat floor that made the Element ideal for moving, camping, beach days, tailgating, antiquing, and (not to put too fine a point on it) drive-in movies – which we still had those in Florida until at least 2010.

In an EV, all that flat-floor goodness is still there, with the added benefit of being able to offer a flat floor without a transmission tunnel ruining the bedroom cargo bay.

Add a bit of extra width inherited from the Prologue, toss in a friendly ASIMO interface to keep the investment class happy, and offer a full range of inflatable tents, dog beds, and other overlanding, pet, or surf-friendly accessories, and Honda could watch the money roll in. At the very least, if Honda had built a modern Element instead of the Prologue on GM’s skateboard, they might have an easier time moving them in post-rebate America, I think. What do you guys think?

You guys are smart, so I’m sure you’ll be able to find all the problems with this particular take – and I can’t wait to hear them! Should it be FWD only? A plug-in hybrid? Ship with a tent? Scroll on down to the comments and let me know what you think it would take to make a battery-powered Honda Element revival make sense to you.

Original content from Electrek.


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Chinese Buick Electra EV may be coming to the US after all

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Chinese Buick Electra EV may be coming to the US after all

File this under “wishful thinking” if you want, but a fresh trademark filing for the Buick Electra name could mean that the storied nameplate is set for a return to US shores.

GM Authority reports that Buick parent company General Motors has renewed its trademark for the Buick Electra name in the US in a filing from 09DEC2025 with the United States Patent and Trademark Office (USPTO), and received an assigned serial number 99538079. The application carries a Goods and Services of, “Motor land vehicles, namely, automobiles.”

Electra a nameplate that holds a long history with the near-luxe Buick brand and has generally been believed to be one that’s especially relevant to Buick’s electrification strategy in the US. That’s a notion that seems especially true when you consider the following two facts:

  1. the Buick Electra nameplate is already featured on a number of hugely successful GM products being sold in the ultra-competitive Chinese market
  2. 2027 is the fortieth anniversary of the Buick Grand National, and GM’s marketers are way too smart to let that moment slide

It’s worth noting, of course, that this most recent renewal for the Buick Electra trademark is a long, long way from a confirmation of a new all-electric Buick for the US market and even further from a confirmation that we’re getting the hot, sexy Electra GM sells in China. If anything, it’s likely just a matter of course legal thing that GM needs to protect its IP in China while, at the same time, preventing some kind of disastrous Sierra Mist scenario from playing out at home (which– yeah, I get that it’s not true, but you got the idea).

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That said, I want to believe.

Electrek’s Take


I’m a huge fan of GM, GM’s EVs, and the way Mary Barra has managed the General over the past several years. I also think a big, sexy sedan is sorely missing from GM’s lineup, and the fast, flashy electric sedan formula might play better at the Buick store than at the Cadillac brand.

Combine that with an overwhelming desire to see a new-age Buick Grand National parked in my garage next Christmas and you can see that I’m not to be trusted. So, what say you? Head on down to the comments and let us know what you think of an American Electra revival just in time for the 2027 model year.

SOURCE | IMAGES: GM Authority; GM.


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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