Ford Motor Co. expects to triple the output of its all-electric Mustang Mach-E SUV to over 200,000 units per year by 2023 for North America and Europe, its Chief Executive Officer Jim Farley said in a tweet on Friday. “It’s hard to produce Mustang Mach-Es fast enough to meet the incredible demand, but we are…
Ford Expects to Triple Electric Mustang Output by 2023
December 11, 2021
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German Industry ‘Not out of the Woods’ Despite Rise in Output
December 7, 2021
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BERLIN—German industrial output rose more than expected in October in a rare sign of strength in manufacturing, but analysts warned that supply bottlenecks for raw materials and intermediate goods would continue to hamper production in Europe’s biggest economy. The Federal Statistics Office said industrial output was up 2.8 percent on the month after a revised…
OPEC+ Oil Output Decision in the Balance as Omicron Hammers Prices
December 2, 2021
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LONDON—OPEC and its allies will decide on Thursday whether to release more oil into the market or restrain supply amid big gyrations in crude prices, a U.S. release from oil reserves, and fears over the new Omicron coronavirus variant. Brent has tumbled to about $70 a barrel, down from October’s three-year highs above $86. Prices…
OPEC Oil Output Boost in November Again Falls Short of Target
November 30, 2021
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LONDON—The increase in OPEC’s oil output in November has again undershot the rise planned under a deal with allies, a Reuters survey found on Tuesday, bringing a lack of capacity in some producers into focus ahead of a policy meeting this week. The Organization of the Petroleum Exporting Countries (OPEC) pumped 27.74 million barrels per…
US Manufacturing Output Races to 2–1/2-Year High
WASHINGTON—Production at U.S. factories rebounded more than expected in October as the drag from Hurricane Ida faded and motor vehicle output picked up, but manufacturing continues to be constrained by shortages of raw materials and labor. Manufacturing output surged 1.2 percent last month to its highest level since March 2019, after falling 0.7 percent in…
Euro Zone Industry Output Stronger Than Expected in September
BRUSSELS—Euro zone industrial production dipped by less than expected in September, data showed on Friday, leaving it higher than anticipated year-on-year due to a surge in output of non-durable consumer goods. The European Union’s statistics office Eurostat said industrial production in the 19 countries sharing the euro fell 0.2 percent month-on-month in September for a…
Oil Rises After OPEC+ Rebuffs US Call to Boost Output
November 5, 2021
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LONDON—Oil prices rose above $81 a barrel on Friday after OPEC+ producers rebuffed a U.S. call to raise supply to cool the market, sticking to plans for a gradual increase in output after cuts made in the face of the coronavirus crisis. Brent crude rose 52 cents, or 0.65 percent, to $81.06 a barrel by…
US Manufacturing Output Declines in September
WASHINGTON—Production at U.S. factories unexpectedly fell in September as motor vehicle output slumped amid an ongoing global shortage of semiconductors. Manufacturing output dropped 0.7 percent last month, the Federal Reserve said on Monday. Data for August was revised down to show production falling 0.4 percent instead of rising 0.2 percent as previously reported. Economists polled…
Chip Shortages, Hurricane Ida Depress US Manufacturing Production
October 18, 2021
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WASHINGTON—Production at U.S. factories fell by the most in seven months in September as an ongoing global shortage of semiconductors depressed motor vehicle output, further evidence that supply constraints were hampering economic growth. Manufacturing production last month was also depressed by the lingering effects of Hurricane Ida, which also severely disrupted output at mines. The…
OPEC+ Sticks to Plan for Gradual Output Hike, Oil Price Roars Higher
October 4, 2021
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LONDON―OPEC+ said on Monday it would stick to an existing pact for a gradual increase in oil output, sending crude prices to three-year highs and adding to inflationary pressures that consuming nations fear will derail an economic recovery from the pandemic. The Organization of the Petroleum Exporting Countries, Russia, and allies, known as OPEC+, have…
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