Mariam Sharman
Sales Manager
USA - 🛢️ Weekly Energy and Economic Insights
Economic Indicators:
U.S. Industrial Production: Rose by 1.6% y/y in June, the strongest increase since November 2022. The ADS Business Conditions Index suggests improved economic growth for Q3 2024.
Consumer Sentiment: Declined for the third consecutive month, down over 14% since March 2024, indicating slower consumer spending.
Oil Market:
Crude Oil Inventories: Fell by 1.8 mb/d in June and 0.3 mb/d in July, with domestic stocks decreasing by 20.5 million barrels recently. Despite high production levels, prices saw a slight decline.
Natural Gas: Prices dropped by 7.5% w/w to $2.10 per million Btu, with inventories growing and futures prices for December higher compared to August.
Agriculture and Energy:
Oil and Natural Gas in Agriculture: The consumption of oil and natural gas in agriculture has been steadily rising, underpinning global food supply and productivity.
Texas Oil and Gas:
Production: Texas crude oil production held strong at 5.6 mb/d in June, with Texas accounting for 42.8% of U.S. production.
Natural Gas: Marked by strong production but a slight decrease in marketed output to 32.2 bcf/d.
Market Trends:
Bond Premiums: The premium for low-credit quality bonds decreased, while Fed Funds futures rates remained stable.
Electricity: ERCOT's generation and maximum load showed some variability, with rising electricity prices observed in Texas compared to neighboring states.
Overall: The oil market is tightening with decreasing inventories and a mixed picture in natural gas prices. Economic growth shows positive signs but consumer sentiment is weakening, potentially affecting future spending.
🌍 Nestlé, Mars, and Ferrero Back EU Deforestation Ban Amid Delay Calls
Nestlé, Mars Wrigley, Ferrero Back EU Deforestation Law, Document Shows | ESM Magazine
Nestlé, Mars Wrigley and Ferrero have backed the European Union's upcoming ban on imported goods linked to deforestation.
DECA - Upgrade to Energy-Efficient Water Heating with Air Economizer
Boost Efficiency and Cut Costs
Transform your water heating system with DECA S.r.l.'s state-of-the-art exhaust air economizer. Crafted with high-grade stainless steel 304L tubes and 304 fins, our economizer effectively captures and repurposes heat from exhaust air to preheat water, leading to substantial energy savings.
Key Features:
Premium Materials: Robust stainless steel 304L tubes and 304 fins for superior heat transfer and corrosion resistance.
Energy Efficiency: Lower your water heating costs by recycling waste heat from exhaust air.
Eco-Friendly: Reduce your carbon footprint with decreased energy consumption.
Soga - EPC Carwash Motors with Integrated Gearbox (IEC80)
Unlock unparalleled efficiency in your carwash systems with our specialized motors, equipped with an integrated gearbox for IEC80 applications. Engineered for precise speed reduction, these motors are the ideal choice for your operational needs.
Key Specifications:
Model: IEC80 Integrated Gearbox Motor
Reduction Ratio: 1:9 for effective speed control
Design: Compact, space-saving, and noiseless
Maintenance: Completely maintenance-free
Why Choose SOGA EPC?
BMW Leads the Pack in Electric Vehicle Sales for H1 2024, Outshining Mercedes and Audi 🚗⚡
In the first half of 2024, BMW Group has emerged as a leader in global automotive sales, significantly outstripping competitors Mercedes and Audi across all drive systems. BMW’s dominance is particularly evident in the electric vehicle sector, where it has sold 179,557 battery electric vehicles (BEVs) and an additional 11,065 MINIs. Even excluding MINI, BMW’s electric sales surpass the combined totals of Mercedes and Audi, despite Mercedes' figures including some from the Smart brand.
Mercedes has seen a 17 percent decline in electric vehicle sales, while Audi reported a modest 1.3 percent increase. In contrast, BMW's electric vehicle sales surged by 34.1 percent, reinforcing its position as a market leader for 2024.
Struggles for Mercedes and Audi are also apparent in individual model lines. Audi’s Q8 e-tron faces potential production shutdown, and Mercedes’ EQC has been largely overlooked since production ceased over a year ago.
Looking forward, BMW expects continued success with upcoming models including the BMW i5 Touring (G61) and the refreshed BMW i4 (G26 LCI), along with future releases like the BMW iX3 (NA5) and new BMW i3 (NA0) set for 2025 and 2026.