News in Brief
Electric car competition in China
AP – Global and Chinese automakers plan to unveil more than a dozen new electric SUVs, sedans and muscle cars this week at the Shanghai auto show, their first full-scale sales event in four years in a market that has become a workshop for developing electrics, self-driving cars and other technology.
Automakers are competing to roll out faster, more luxurious, more feature-drenched electric vehicles in the technology’s biggest, most crowded market.
OPEC+ production falls
CNBC – OPEC-plus crude production plummeted by almost 700,000 barrels per day last month, according to Energy Intelligence’s preliminary assessment, as earlier increases by Nigeria and Russia were thrown into reverse.
Crude oil production in March by countries participating in the alliance’s supply management agreement fell by 680,000 bpd from February to 37.64 million bpd, according to the assessment.
Big targets
for solar, wind energy
REUTERS – The Group of Seven rich nations on Sunday set big new collective targets for solar power and offshore wind capacity, agreeing to speed up renewable energy development and move towards a quicker phase-out of fossil fuels.
But they stopped short of endorsing a 2030 deadline for phasing out coal that Canada and other members had pushed for, and left the door open for continued investment in gas, saying that sector could help address potential energy shortfalls.