News Round-up: Oil's Ups and Downs, Porsche Panamera Leaked, and Women Driving Crossover Sales Growth

After a short rally in the price of oil, WTI and brent crude prices have plateaued over the last week ahead of an OPEC meeting Thursday, and increased oil production from Iraq beginning next month.

That, Porsche leaked the new Panamera, and women are more likely to buy vehicles on their own after the jump.

Oil producers crank up the volume

According to The Globe and Mail, the world’s second largest producer of oil is looking to increase production next month by 5 million barrels in an effort to boost market share.

Iraq, which is a member of Organization of the Petroleum Exporting Countries, is already producing record volumes of oil.

On Thursday, OPEC will meet in Vienna to discuss a few matters, but the price of oil — now hovering around $50/barrel — likely isn’t one of them. Instead, the organization will focus on market share discussions, and also elect a new secretary-general.

This is the next Porsche Panamera, supposedly

A Californian named Vince Burlapp caught a look at what he says is the 2017 Porsche Panamera. So, um, here it is.

Full disclosure: I still haven’t driven a 911.

‘Are you sure you can buy this car without your husband’s permission?’

Dealers are horrible, or at least some of them are.

A piece in Automotive News illustrates the fact that some dealers and salesmen are still stuck in 1956.

Nora Patey knew what she wanted when she went car shopping over Presidents Day weekend: a small SUV, with a backup camera, high carriage and a reasonable monthly lease payment. Even so, many of the salesmen made their pitches to her boyfriend.

“He would have to say, ‘It’s not my car, don’t talk to me, talk to her,’” the 24-year-old recalled. “Even though I would initiate the introduction and say that I was looking for the car, and I was buying it, a lot of the conversation would frequently get directed to him.”

But it’s women — and especially single, professional women — that are driving sales growth. And if you treat them right, they’ll keep coming back, possibly with friends.

“There’s a group of single, professional females out there that need vehicles, and you need to be attentive to them,” said James Mulcrone, director of research services in MaritzCX’s Michigan office, who has studied trends among female automobile buyers. “They’re going to make money, they’re going to make their own decisions, and they can be very loyal consumers.”

…

More than two-thirds of female buyers reported their 2015 purchase decision as “entirely up to me,” and the appeal of SUVs, with ample cargo room and improving fuel economy, is widespread.

[Images: Oil Pump Jack, Paul Lowry/Flickr]