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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.

The U.S. average retail price of diesel fell 3.7 cents to $2.814 per gallon, the Department of Energy reported March 9.

America’s nascent status as a net petroleum exporter is already at risk as plunging oil prices threaten domestic production and give a leg-up to the world’s biggest producers.

BEIJING — Global stock markets and oil prices plunged March 9 after a fight among major crude-producing nations jolted investors who already were on edge about the surging costs of a virus outbreak.