Key Takeaways
- Tesla (TSLA) sold 67,886 China-made vehicles in July, marking an 8.41% year-over-year decrease, though deliveries were up 4.4% from June 2024.
- The Kremlin has stated it has no intention to engage in a dispute with former US President Trump over nuclear submarines and warned all parties to be extremely cautious with nuclear language.
- OPEC+ has finalized a 547,000 barrel per day (bpd) production increase for September 2025 and indicated a potential pause in future increases.
- Kuwait's Finance Minister, Noora Al Fassam, has resigned, with the electricity, water, and renewable energy minister, Sabeeh Al-Mukhaizeem, appointed as acting finance minister.
Tesla's July Sales in China Show Mixed Signals
Tesla (TSLA) reported sales of 67,886 China-made vehicles in July, according to data from the China Passenger Car Association (CPCA). This figure represents an 8.41% decline year-over-year. However, it also indicates a 4.4% increase in Model 3 and Model Y deliveries compared to June 2024.
Previous reports indicated a significant dip in July 2022 sales due to factory line upgrades in Shanghai, which aimed to increase weekly output from 17,000 to 22,000 units. Tesla China typically prioritizes exports at the beginning of a quarter and domestic sales at the end. The company's Shanghai Gigafactory was reportedly operating at full capacity by mid-July.
Kremlin Addresses Nuclear Rhetoric and US Diplomacy
The Kremlin has publicly stated its disinterest in engaging in a polemic with former US President Donald Trump regarding nuclear submarines. Kremlin spokesperson Dmitry Peskov emphasized that everyone should exercise extreme caution with nuclear rhetoric, noting that US submarines are already on combat duty. This follows Trump's order to deploy two nuclear submarines in response to "highly provocative statements" from former Russian President Dmitry Medvedev, who had alluded to Russia's "Dead Hand" nuclear launch system.
The Kremlin also announced that Russian President Vladimir Putin might meet with Trump's envoy, Steve Witkoff, this week. This potential meeting comes as the Kremlin acknowledges the "very important" nature of US mediation efforts in the Ukraine conflict and views contacts with Witkoff as "always useful and important." However, the Kremlin has also indicated that it is "not discussing any nuclear escalation." Trump has set a deadline for Russia to take steps to end the Ukraine war or face new sanctions, with Witkoff's visit preceding this deadline.
OPEC+ Finalizes Production Increase and Signals Future Pause
OPEC+ has confirmed an increase in oil production by 547,000 barrels per day (bpd) for September 2025. This decision, made by eight member countries including Saudi Arabia and Russia, is part of a phased rollback of voluntary production cuts initiated in November 2023. The group cited a steady global economic outlook and low oil inventories as reasons for the increase.
The alliance also indicated that this production adjustment could be paused or reversed depending on evolving market conditions, demonstrating a flexible approach to maintaining stability in global oil markets. This follows a July decision to boost production by 548,000 bpd for August.
Kuwaiti Finance Minister Resigns
Kuwait's Finance Minister, Noora Al Fassam, has resigned from her position. The state news agency KUNA reported the resignation without providing specific reasons. Sabeeh Al-Mukhaizeem, who currently serves as the electricity, water, and renewable energy minister, will assume the role of acting finance minister. This marks another change in Kuwait's political landscape, which has seen previous finance minister resignations due to various factors, including objections to ministerial transfers.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.