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…
The road ahead: How electric taxis could bring in $59.4 billion in revenue
The global electric vehicle (EV) taxi market is on an accelerating growth trajectory and is expected to exceed US$59.4 billion by 2032. With sustainability, urban mobility and technological innovation at the core of this transformation, electric taxis are redefining transportation patterns around the world. This article provides an in-depth look at the factors driving the growth of this market, key industry players, technological advancements, and future prospects of electric taxis. Surge in electric taxi market this Electric taxi market There has been astonishing growth over the past decade. Governments and private companies have turned to electric vehicle solutions to reduce carbon emissions and improve energy efficiency. The rapid expansion of the electric taxi market is due to the following factors: 1. Strict environmental regulations Governments around the world are tightening environmental regulations to combat air pollution and greenhouse gas emissions. To meet these requirements, traditional internal combustion engine vehicles in urban taxi fleets are increasingly being replaced by electric vehicles.…
Explore the latest exhibition information and industry trends at ASAP Expo Magazine. Your one-stop platform, bringing together global exhibition highlights, industry trends and in-depth analysis, to help companies accurately connect with the market and seize business opportunities.
