South Korea on Tuesday unveiled a five-year plan to drastically increase the number of environmentally-friendly cars on its streets. The government aims to ensure that hybrids, electric vehicles and hydrogen fuel-cell cars account for 20% of all new cars sold in the country by 2020. Source: WSJ
The oil market is “adequately supplied for now,” but the supply losses from Venezuela and Iran leave the market suffering from “strain,” according to a new report from the International Energy Agency (IEA). Source: Oil Price
Saudi Arabia on Sunday warned against threats to punish it over the disappearance of journalist Jamal Khashoggi last week, saying it would retaliate against any sanctions with tougher measures, as international criticism increased. “It would lead to Saudi Arabia’s failure to commit to producing 7.5 million barrels. If the price of oil reaching $80 angered President Trump, no one should rule out the price jumping to $100, or $200, or even double that figure,” he wrote. Source Fnancial Post
China has sold $3 billion of sovereign dollar bonds, its third such sale in the last 14 years, drawing healthy investor demand against a backdrop of global market turmoil and a trade war with the United States. Source: Reuters
