Afternoon Coffee: Mercedes-Benz Betting on Batteries; Boeing Records Zero 737 Max Orders


But first, oil production in the Western hemisphere has taken a hit.

US sanctions depleted Venezuela's oil production to a new low last month, according to OPEC.

According to a Reuters report, this could lead to the further tightening of global oil supplies. OPEC said Venezuela had reported about 960,000 barrels per day (bpd) in March, which was down by 500,000 bpd a day in February.

Boeing recorded zero 737 MAX orders in March

In the wake of two fatal crashes, Boeing failed to book any commercial orders for the best-selling passenger jet through March. This also comes as the company has dramatically slowed production, with output falling to less than half the rate of deliveries over the past two months.

This has significantly undermined Boeing’s plan to clear its backlog by delivering 900 planes in 2019.

U.S. yogurt products outpace consumer demand

The U.S. yogurt industry has been booming in recent years, especially with the emergence of new varieties such as low-sugar and Greek-style. However, in the year ending in February 2019, yogurt sales have dropped 6% in America.

There has been huge competition between packaged food companies, healthy upstarts, and retail own-brands. The packaged food companies are struggling to compete with cheaper upstarts and private labels that are offering new and exciting products.

Mercedes-Benz’s battery production network expansion plan

Automaker Mercedes-Benz has two major investments in the works — 10  billion euros into the expansion of its electric fleet and another 1 billion euros in the global battery production network.

The luxury carmaker that sources battery cells from around the world will also be expanding this network to 8 factories across 3 continents; from one in China to another one in Tuscaloosa, Alabama.

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