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Industry

ExxonMobil executive warns oil inventories near bottom, prices could spike in 2 to 3 weeks

A warning has emerged that global crude oil inventories could reach critical levels within weeks. ExxonMobil senior vice president Neil Chapman said the market is approaching unusually low stock levels and that it could take only 2 to 3 weeks for shortages to deliver a real shock. If supply does not recover quickly, Brent crude could surge to around $150 a barrel, with an upper scenario of $160, he said.

Mobility

China sells 13.2 million as global EV sales top 20 million and market reshapes

Global sales of plug-in hybrids and battery electric vehicles topped 20 million last year and accounted for 25 percent of new-car sales, the International Energy Agency said. China sold 13.2 million EVs, taking 53 percent of its new-car market, while Europe’s sales rose 30 percent to above 4 million. The United States lagged, with EV share below 10 percent. Emerging markets saw sales jump 80 percent, led by low-priced Chinese models.

Industry

Tesla formalises China FSD, shifts strategy; no \'EV chasm\'

Tesla is adjusting its full self-driving (FSD) strategy in China, formalising its rollout while leaving the timing unclear and renaming the feature “Tesla assisted driving” in a move seen as aimed at regulation. Strategy shifts are also drawing attention to expansion in other Asian markets such as South Korea. Tesla is also facing production and supply-chain variables, intensifying competition from China and rivals, and broader changes in the EV market and mobility services driven by data and AI.