Global markets may have staged a dizzying rally since news broke of an effective coronavirus vaccine, but the International Energy Agency says oil markets are unlikely to feel any significant economic benefits until well into next year. In its monthly report, the IEA darkened its outlook for crude consumption in the months ahead, deepening its forecasted drop in oil demand for 2020 by 400,000 barrels a day to 8.8 million. The move was even more severe than OPEC's forecast cut yesterday.
South Korea's Hyundai Motor says it will produce the all-new Tucson SUV in its Alabama plant to meet local demand for SUV models. Hyundai plans to produce the 2022 Tucson gasoline and gasoline hybrid models at the plant next year.
