Saudi Arabia lowers oil prices in Asian markets…
Saudi Arabia has decided to cut oil prices for its Asian buyers more than expected in a dramatic move as OPEC+ again delays a planned production increase. State-owned oil producer Saudi Aramco will offer its flagship Arabian Light crude oil starting in January at a premium of 90 cents per barrel lower than the regional benchmark, Bloomberg reported. This marks a significant decrease from the $1.70/barrel premium this month. Initially, industry analysts expected a smaller drop of $1 a barrel, based on surveys of traders and refiners. Also read: World’s largest import market for petroleum lubricants and greases The price reduction decision is not limited to the Asian market; similar adjustments have been made to buyers in northwest Europe and the Mediterranean region. In contrast, prices in North America remained unchanged, highlighting strategic differences in pricing across regions. Global benchmark oil prices are experiencing a downward trend, with worries about weak demand growth, especially from China, raising concerns about a…
NIO lowers price of Onvo L60 to beat Tesla Model Y
NIO has opened more than 100 stores in China for the Onvo brand. All Onvo L60 models are compatible with the automaker's extensive battery swap network. Next year, a flagship model with a range of 621 miles (1,000 kilometers) will be released. Ever since the Tesla Model Y became the world’s best-selling electric car, many new and compelling alternatives have been touted as rivals, but none have come close to taking the crown. However, NIO believes the L60 from its mass-market Onvo brand could change that narrative, and is offering it at a very competitive price. var adpushup = window.adpushup = window.adpushup || {que:()}; adpushup.que.push(function() { if (adpushup.config.platform !== "DESKTOP"){ adpushup.triggerAd("4d84e4c9 -9937-4f84-82c0-c94544ee6f2a"); } else{ adpushup.triggerAd("6a782b01-facb-45f3-a88f-ddf1b1f97657"); } }); Not content with just catching up with Tesla, NIO has further lowered the price, announcing in May a price of RMB 219,900 (about $31,200), which is already very competitive and even lower than the Tesla Model Y's RMB 249,900 (about $35,400). Read: NIO…
2025 Hyundai Sonata launches entry-level SE trim, lowers price
Sonata SE returns for 2025 with entry price down to $26,650 The 2025 Hyundai Sonata will bring the entry-level SE trim back into the lineup. Pricing starts at $26,650, which is $850 less than last year's model. Other changes are limited, but prices for other trims rise slightly. What's rarer than a midsize family sedan? In an era of rampant inflation, prices are cut. The 2025 Hyundai Sonata will be available as an entry-level SE model. This drops the base price to $26,650, $850 cheaper than last year's model. MORE: 2025 Kia K5 prices rise to match its new look Although the Sonata SE is at the bottom of the range, it comes with LED lighting, an acoustic windshield and a hands-free smart trunk. It also has 16-inch alloy wheels and cheap side mirrors without heating. Inside, costs are further reduced and drivers can find manual climate controls and a polyurethane steering wheel. Other highlights include cloth seats, a six-speaker…
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