Oil

Drivers are getting a break at the pump, though gas prices tend to climb as spring approaches.

DEK: BP expects global oil demand will peak in 2040, but electric vehicles alone won’t drastically change the global energy landscape.

In its benchmark annual Energy Outlook, BP forecast a 100-fold growth in electric vehicles by 2040, with its chief economist Spencer Dale painting a world in which we travel much more but instead of using private cars, we increasingly share trips in autonomous vehicles.

Oil markets were split on Tuesday, with U.S. crude was pushed up by reduced flows from Canada while international Brent prices eased.

President Trump reportedly approves of a 25 cent-per-gallon gasoline tax hike he hopes will fund his newly released infrastructure plan, and although tax-averse Republicans in Congress remain skittish, he’s found a new set of allies: truckers.

Nicolas Maduro, president of Venezuela, warned President Trump against a ban on imports of oil from the crisis-stricken nation.

As the Trump administration weighs whether to hike the tax on gasoline in order to pay for the newly released infrastructure proposal, some are warning the president that it could hinder the sudden boost in approval ratings that Republicans have seen since the tax overhaul was signed into law in late December.

Oil rose towards $65 barrel on Thursday, supported by Saudi Arabia's comment that it would rather see an undersupplied market than end an OPEC-led deal to withhold production too soon, and by a weak U.S. dollar.

The Mideast kingdom's energy minister said major producers would prefer tighter markets than an end to supply cuts too early.

The kingdom will keep its crude exports below 7 million barrels per day (bpd) in March, despite a maintenance shutdown of the 400,000 bpd SAMREF refinery, the Saudi energy ministry said, confirming a plan given earlier by industry sources.

The world’s largest oil and gas company, ExxonMobil, is taking the offensive against activists suing it over climate change by filing a countersuit.

The publisher of the Schork Report said Bernie Sanders supporters should take note that this is the “inevitable outcome of socialism.”

Oil dipped on Wednesday, squeezed by lingering oversupply including rising U.S. inventories and ample physical flows.

The Paris-based International Energy Agency raised its forecast for oil demand growth in 2018 to 1.4 million barrels per day, from a previous projection of 1.3 million bpd.

The Paris-based International Energy Agency raised its forecast for oil demand growth in 2018 to 1.4 million barrels per day, from a previous projection of 1.3 million bpd.

The rise in global oil production, led by the United States, is likely to outpace growth in demand this year, the International Energy Agency said on Tuesday.