Fuel

Just a week ago, when crude oil prices fell to $46 a barrel, the mayor of the biggest city in the world’s largest shale oil patch seemed oddly calm, almost relieved.

A new report picks Volkswagen as the first incumbent global carmaker to make money selling electric vehicles, with profits expected to arrive by 2022.

BEIJING — China’s auto sales plunged 81.7% in February from a year ago after much of the economy was shut down to fight a virus outbreak, an industry group reported March 12.

U.S. oil output will average 12.7 million barrels a day in 2021, down from an expected 13 million barrels this year, the Energy Information Administration said March 11.

Saudi Arabia and Russia’s price war is handing over a multibillion-dollar profit opportunity to the world’s largest oil traders.

OPEC expects there will effectively be no growth in global oil demand this year, slashing its forecasts as the coronavirus hits the world economy.

INDIANAPOLIS — The momentum with which electrification for commercial trucks is evolving was a key topic at the Work Truck Show and accompanying Green Truck Summit here, with discussions focused on the technology’s potentially robust pulling power, the challenges of building out a charging network and the pace at which innovation and consolidation are constantly bringing change to this nascent market.

Mercedes-Benz, a unit of Daimler AG, announced March 10 extensively upgraded versions of its diesel-powered Vito van available for ordering in Europe now and its battery electric eVito model available for ordering this summer.

DUBAI, United Arab Emirates — Saudi Arabia’s state-run oil giant Saudi Aramco said March 10 it would increase its crude oil production to 12.3 million barrels a day in April, a record amount.

BEIJING — Global stock markets rebounded March 10 from record-setting declines after U.S. President Donald Trump said he would ask Congress for a tax cut and other measures to ease the pain of the spreading coronavirus outbreak.