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Oil retreated from a 16-month high after OPEC pumped a record amount of crude in November.

A boom in electric vehicles made by the likes of Tesla Motors Inc. could erode as much as 10% of global gasoline demand by 2035, according to the oil industry consultant Wood Mackenzie Ltd.

The U.S. average retail price of diesel increased 6 cents to $2.480 a gallon, according to the Department of Energy.

SALT LAKE CITY — Nikola Motor Co. displayed its Nikola One hydrogen-electric Class 8 tractor at its headquarters here.

OPEC’s first production cuts in eight years are intended to shrink the world’s bloated oil stockpiles back to a normal level, paving the way for prices to rise to more than $60 a barrel.

SALT LAKE CITY — Deliveries of the Nikola One hydrogen-electric Class 8 tractor produced by Nikola Motor Co. will begin in 2020, and the company has moved forward with plans to design a day cab, called the Nikola Two. People in trucking said the technology has the potential to change the industry.

OPEC clinched a deal to curtail oil supply, confounding skeptics as the need to clear a record global crude glut — and prove the group’s credibility — brought its first cuts in eight years.

Toyota is exploring a “semi-trailer truck application” of hydrogen fuel cell technology.

A sharp decline in registrations of new trucks is taking the air out of what has been a remarkably robust period of growth in the size of the nation’s Class 8 fleet.