London, July 17, 2025 (Oilandgaspress) –-U.S. Energy Information Administration (EIA) reported that crude oil inventories in the United States decreased by 3.9 million barrels during the week ending July 11. Commercial stockpiles at 422.2 million barrels are currently about 8% below the five-year average for this time of year. Last week, the International Energy Agency (IEA) said in its monthly report that the market balance is tight in the peak summer consumption season. “Price indicators also point to a tighter physical oil market than suggested by the hefty surplus in our balances,” the agency said in the report. Read More
Toyota launched construction of electric vehicle plant in Jinshan district, Shanghai, after the initial cooperative framework, demonstrating the Chinese economic hub’s attractiveness for international investment and the city’s determination to develop a world-class new energy vehicle industrial ecosystem, said officials and experts. The project is the world’s first overseas NEV production base established by Lexus, the luxury arm of Toyota. Officially breaking ground on June 27, the Lexus new energy project involves an investment of 14.6 billion yuan ($2 billion), Shanghai-based newspaper Jiefang Daily reported. It is slated for completion in August 2026 and scheduled for production in August 2027, with an initial annual capacity of 100,000 units. Chen Jian, deputy director of Jinshan district’s investment promotion office, called the project a recognition by the world’s leading automakers of China’s manufacturing capabilities in NEVs, including research and development, product reliability, stability, quality, as well as the overall supply chain.. Read More
CCCEU tackles EU tariff measures on EVs A delegation from the automotive working group of the China Chamber of Commerce to the European Union (CCCEU) has urged EU officials to ensure fair market access for Chinese electric vehicle (EV) manufacturers.
During discussions with European policymakers on Tuesday and Wednesday, representatives from the CCCEU’s automotive working group voiced concern that external political pressure could exert a “spillover effect” on EU policy decisions, potentially shifting the bloc’s approach from “de-risking” to “decoupling” from China.
They expressed concerns that Chinese products might be labeled as “engaging in trade diversion,” thus having to face restrictions in the European market, and that escalating EU-US trade tensions could affect the stability of the European market.
The CCCEU representatives noted that the European Commission’s decision to impose additional tariffs on Chinese-made EVs contradicts the EU’s climate ambitions by restricting access to affordable zero-emission vehicles.The group expressed hope that negotiations over EV price caps would lead to a mutually acceptable agreement, bringing greater certainty to bilateral and global trade.
Oil Market Report – July 2025 Benchmark crude oil prices rose by around $7/bbl on average in June, trading in a wide range between $65/bbl and $80/bbl. Israel’s air strikes on Iranian military and nuclear targets sent prices soaring mid-month, with North Sea Dated briefly surpassing $80/bbl before returning to pre-conflict levels after a ceasefire accord was reached. At the time of writing, Dated was trading just above $72/bbl, down $15/bbl on a year ago.
Escalating geopolitical tensions were set against a backdrop of an apparently oversupplied market. In June, global oil production rose by 950 kb/d m-o-m to 105.6 mb/d – a substantial 2.9 mb/d above year-ago levels. On 5 July, the OPEC+ alliance announced a larger-than-expected ramp-up in targets for August, of 550 kb/d, effectively unwinding 80% of the 2.2 mb/d voluntary production cuts in place since 2023. Reports suggest the group may follow-up with the same outsized increase in September, which will complete the planned return of supply a full year ahead of the original schedule. World oil supply is now forecast to rise by an average 2.1 mb/d this year to 105.1 mb/d and by a further 1.3 mb/d to 106.4 mb/d in 2026, with non-OPEC+ producers dominating growth at 1.4 mb/d and 940 kb/d, respectively. Global oil supply increased by a steep 950 kb/d m-o-m to 105.6 mb/d in June, led by Saudi Arabia. Output was up by 2.9 mb/d y-o-y, of which OPEC+ accounted for 1.9 mb/d. With higher OPEC+ targets for August, world oil supply is projected to rise by 2.1 mb/d to 105.1 mb/d this year and by an additional 1.3 mb/d in 2026, with non-OPEC+ adding 1.4 mb/d and 940 kb/d, respectively.
The IEA Oil Market Report (OMR) is one of the world’s most authoritative and timely sources of data, forecasts and analysis on the global oil market
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $67.33 | Up |
| Crude Oil (Brent) | USD/bbl | $69.32 | Up |
| Bonny Light 17/07/25 CBN | USD/bbl | $72.76 | Down |
| Dubai | USD/bbl | $69.93 | Down |
| Natural Gas | USD/MMBtu | $3.52 | — |
| Murban | USD/bbl | $70.59 | Up |
| OPEC basket 16/07/25 | USD/bbl | $69.93 | Down |
How Mercedes-Benz contributes with data from real-life traffic Mercedes-Benz is taking a consistent step towards the future in the further development of advanced driver assistance systems and automated driving functions: From the end of July 2025, the company will use sensor and video data from the customer fleet to recognise different road users and atypical traffic situations even better in future. The aim is to increase road safety for everyone – a further contribution on the road to “Vision Zero”, the goal of zero road fatalities in the European Union by 2050.
Data is only collected with the consent of the vehicle owner. The company also provides transparent information about the procedure and the use and processing of the data. The additional data from customer vehicles will enable the systems to react even better to uncommon groups of people such as children, pedestrians, cyclists and people with restricted mobility. The aim is to train the systems with the wide range of situations that they will encounter in the real world. Uncommon traffic situations, such as temporary traffic routing or pop-up cycle paths, or unusual behaviour on the part of road users are also included in the training data.
The variety of data from customer vehicles also helps to identify potential hazards in road traffic. This means that safety can be improved not only in the vehicle itself, but also perspectively through adapted traffic routing or infrastructural measures. The continuous knowledge gained from the customer fleet flows into the optimisation of the driving assistance systems via software updates. The data from the customer vehicles is only stored temporarily based on location or events – for example during heavy braking manoeuvres – and then selectively transmitted to the Mercedes-Benz back end. There, the data is usually anonymised and separated from the vehicle identification.
Mercedes-Benz customers decide whether they wish to provide their vehicle data and can revoke this decision at any time.
Road users who have potentially been recorded by vehicles collecting image data can contact Mercedes-Benz, stating the time and place, and request that any recordings be deleted.
Mercedes-Benz at the Caravan Salon Düsseldorf The future of the Sprinter is the Mercedes‑Benz Van Architecture. All newly developed Mercedes‑Benz Vans will be based on the modular, flexible, and scalable Mercedes-Benz Van Architecture. In addition to fully electric models of the Van Electric Architecture (VAN.EA), the second variant of the Van Architecture, the Van Combustion Architecture (VAN.CA), will introduce state-of-the-art combustion engine vans. With this, Mercedes-Benz plans to further strengthen its leading position in the industry.
Overview of new motorhomes based on the Sprinter
Among the new motorhomes based on the current Sprinter at the Caravan Salon in Düsseldorf are the Multisport & Regeneration from Alphavan, the Bürstner Habiton (HM 6.0), the Carthago C2-tourer 141 KB-LE and the Carthago C-line I 4.9 LE, the Encanto from CS-Reisemobile, the Next from Frankia, the 4Family from HIP Campers, the Kreos from Laika, the Malibu I 450 RB-LE as well as the Arto 84E from Niesmann+Bischoff. Detailed insights into these new models can be found in the attached document.
Fair premiere of the V-Class Marco Polo HORIZON
The newly updated V-Class Marco Polo HORIZON leisure vehicle, directly marketed ex-factory by Mercedes-Benz to end customers, is also making its fair debut in the Rhine metropolis. It embodies the core virtues of the V-Class MPV, making it the ideal companion for everyday life; among these are compact exterior dimensions of under two meters combined with a high-quality appearance both outside and in the cockpit. This is characterised by a distinctive radiator grille and a powerfully designed bumper. Depending on the equipment, the radiator grille is framed by an LED light strip. Inside, customers can particularly enjoy a modern widescreen cockpit with two 31.24-centimetre (12.3-inch) displays. An even more stylish atmosphere is created by the optional ambient lighting with 64 colours. The vehicle’s suitability for everyday life is completed by numerous safety and assistance systems and the powerful OM654 diesel engine.
U.S. General Services Administration Renews and Expands Contract with Uber for Business Uber for Business announced a new exclusive contract with the U.S. General Services Administration (GSA), which enables rideshare access to millions of federal employees and contractors for trips such as business trips, veterans’ healthcare rides, emergency response, victim and witness transportation, and more. This strategic renewal of GSA and Uber for Business’ partnership opens the door to a wealth of innovative opportunities and solutions for federal employees.
Originally awarded in 2020, the contract has now been renewed on an exclusive basis for an additional five years, and expanded to include new features to help further modernize government travel, improve efficiencies, and support U.S. federal government operations domestically and globally.
GSA’s mission is to consolidate procurement across government agencies and help eliminate unnecessary duplication and waste. This aligns with Uber’s commitment to bringing efficient, cutting-edge and tech-driven solutions to the public sector. Uber for Business has been able to provide government administrators with a comprehensive technology solution. These solutions enable the GSA to modernize federal travel while simplifying expense and reporting processes. New enhancements to the program include:
Expanded access for government contractors: Government contractors, with approval from contracting officers, can now access the same benefits as federal employees—helping to streamline processes and reduce costs for the government.
Lucid Stock Is Soaring on an Uber Partnership Lucid (LCID) shares are up more than 40% at the time of writing after Uber Technologies (UBER) said it will invest $300 million in the EV maker as part of a broader robotaxi agreement signed today.
Uber will also invest in Nuro, an autonomous technology startup that will equip LCID vehicles with self-driving capabilities
These vehicles will then be delivered to the ride-hailing giant as robotaxis over the next six years. Note that Lucid stock is still down some 13.5% versus its year-to-date high set in February. A $300 million investment not only boosts LCID’s financial runway, but validates its technology and manufacturing capabilities as well.
Partnering with Nuro for autonomous integration adds future-facing value, while the commitment to deliver more than 20,000 robotaxis over six years ensures sustained demand.
Stellantis Discontinues Hydrogen Fuel Cell Technology Development Program Stellantis announced its decision to discontinue its hydrogen fuel cell technology development program. Due to limited availability of hydrogen refueling infrastructure, high capital requirements, and the need for stronger consumer purchasing incentives, the Company does not anticipate the adoption of hydrogen-powered light commercial vehicles before the end of the decade.
As a result, Stellantis will no longer launch its new range of hydrogen-powered Pro One vehicles this year. Serial production was scheduled to start this summer in Hordain, France (medium-sized vans) and Gliwice, Poland (large vans).
“In a context where the Company is mobilizing to respond to demanding CO2 regulations in Europe, Stellantis has decided to discontinue its hydrogen fuel cell technology development program,” explains Jean-Philippe Imparato, Chief Operating Officer for Enlarged Europe. “The hydrogen market remains a niche segment, with no prospects of mid-term economic sustainability. We must make clear and responsible choices to ensure our competitiveness and meet the expectations of our customers with our electric and hybrid passenger and light commercial vehicles offensive.”
This decision will not impact staffing at Stellantis’ production sites. R&D activities related to hydrogen technology will be redirected to other projects.
The current state of the hydrogen segment also presents financial challenges for various stakeholders. In this context, Stellantis has initiated discussions with the shareholders of Symbio to evaluate the current market consequences and to preserve the best interests of Symbio, in line with their respective obligations.
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole , victor@oilandgaspress
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