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IEA forecasts global oil demand to reach 101.6 mb/d in 2023; non-OECD countries lead expansion

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Nevertheless, product markets are expected to remain tight, with a particular concern for diesel and kerosene supplies. While diesel cracks eased month-on-month in May, both jet fuel and gasoline cracks surged as demand picked up seasonally. Diesel and kerosene supplies remain of particular concern, IEA said. mb/d and 1.9

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Saudis Expand Price War Downstream

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Jizan will come on top of Saudi Arabia’s two other 400,000 bpd refineries at Yasref and Yanbu, and will turn the country into a major global player in the downstream sector, expanding its campaign for market share beyond just crude oil. Is Saudi Arabia likely to win a potential price war against Asian producers of diesel?

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VW Chief Executive Says Company Will Introduce EVs Based on the Up! New Small Family in 2013; Cautions Against Electro-Hype

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The perspective of rising oil prices is a turboboost for a change in customer behavior, he said. In May, VW and Chinese carmaker BYD signed a memorandum of understanding to explore the options for partnership in the area of hybrids and electric vehicles powered by lithium batteries. Currently, cars contribute. Earlier post.).

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Can Electric Vehicles Speed Up As The Economy Slows Down?

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Moreover, with the massive drop in oil prices , gas-powered vehicles are more economical to operate, which makes it harder to argue that EVs will help drivers save money on fuel. In Italy, data from the Italian Foreign Car Maker Association highlights that car registration for gas and diesel-powered vehicles fell by 97.5%

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