We use cookies and other technologies to optimize your website experience and to deliver communications and marketing activities that are targeted to your specific needs. These cookies allow us to distinguish you from other users of our website, which helps us to provide you with a good experience when you browse our website and enables us to improve our website. A cookie is a small file of letters and numbers that we place on your computer or mobile device if you agree. How we use cookiesĪll of our web pages use "cookies". For information about what types of personal information will be gathered when you visit the website, and how this information will be used, please see our Privacy Policy. This statement explains how we use cookies on our website. This course is ideal for those with little to no HTML coding experience who want a thorough introduction to creating and publishing websites using HTML5. Activity guides to practice key processes and procedures.Understand the process to create a Web-hosting account and optional domain name.Identify online resources related to your site.Utilize correct file and folder structures.Create an image gallery using industry standard software.Optimize images for the Web and understand file formats.Code webpages to create a personal website.Identify principles of Web design usability and accessibility.Understand progressive enhancement as a best practice.Russian Deputy Prime Minister Alexander Novak said Moscow would extend its voluntary cut of 500,000 barrels a day until the end of 2024 under the OPEC+ deal, according to Russian state news agency Tass.īut Moscow's total exports of oil and refined products, such as diesel fuel, rose in April to 8.3 million bpd, according to the International Energy Agency, in a post-invasion record high. The Saudi decision and increases to oil prices could profit Russia, since Moscow has found new oil customers in India, China and Turkey amid Western sanctions. The oil-rich country needs revenue to balance its budget and fund ambitious state projects. According to estimates by the International Monetary Fund, Saudi Arabia needs $80.90 per barrel to meet its envisioned spending commitments, which include a planned $500 billion futuristic desert city project. Jorge Leon, senior vice president of oil markets research at Rystad Energy, told the Associated Press (AP) news agency that Riyadh's decision provides "a price floor because the Saudis can play with the voluntary cut as much as they like." Prices initially jumped after the announcement, but later plunged amid concerns about the weakness of the global economy.Īnalysts see that the latest cut is likely to hike oil prices in the short term, while the long-term impact will depend on whether the cuts are further extended. In April, several OPEC+ countries agreed to cut production voluntarily by more than one million bpd. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Oil producers have suffered from falling prices and high market volatility in light of Russia's war in Ukraine. This market needs stabilization." Why is Saudi Arabia cutting oil output? We don't want people to try to predict what we do. "This is a Saudi lollipop," the prince said. ![]() OPEC+ producers "will do whatever is necessary to bring stability to this market," he added. The country's Energy Minister Prince Abdulaziz bin Salman told reporters that Riyadh's latest cut is "extendable." Saudi Arabia's output will drop to 9 million bpd in July from around 10 million bpd in May. ![]() OPEC+ producers agreed in the meeting in Vienna to extend earlier production cuts through next year, while the Saudi decision to slash 1 million barrels per day (bpd) was a unilateral step. The meeting was closely watched as a tough one, with Russia seen as wanting to maintain production levels, and Saudi Arabia seeking to push prices. The announcement came after hourslong negotiations at an OPEC+ meeting - the grouping of the 13-member Organization of the Petroleum Exporting Countries (OPEC), headed by Saudi Arabia, and the group's 10 partners, led by Russia. ![]() Saudi Arabia on Sunday announced that it would slash its oil supplies to the global economy in a bid to prop up prices.
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