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Oil Producers Led By Saudis Extended Supply Cuts Amid Slack Prices

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Saudi Oil | AP news Image

Frankfurt, Germany – Saudi Arabia and other oil-producing countries extended output restrictions into next year on Sunday, aiming to preserve low oil prices that have yet to climb despite Middle Eastern upheaval and the start of the summer vacation season.

The OPEC+ alliance, which includes members of the producers cartel and allied countries such as Russia, resolved at an online conference to maintain current production levels, which include collective cutbacks of 2 million barrels per day, until December 31, 2025.

saudi oil

Saudi Oil | AP news image

Oil Producers Led By Saudis Extended Supply Cuts Amid Slack Prices

Saudi Arabia needs higher oil prices to pay Crown Prince Mohammed bin Salman’s ambitious plans to diversify the country’s economy away from fossil fuel exports. Higher oil prices would also aid Russia’s economic growth and stability, as it spends significantly on its conflict against Ukraine.

The OPEC+ statement did not specify what would happen to another set of voluntary cutbacks, which included a decrease of 2.2 million barrels per day by a smaller group of alliance members, including Saudi Arabia. Analysts predicted that the unilateral cutbacks, which expire at the month’s end, would also be extended.

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Saudi Oil | Arab Times Image

Oil Producers Led By Saudis Extended Supply Cuts Amid Slack Prices

International benchmark Brent has remained in the $81-$83 per barrel range for the past month. Even the fighting in Gaza and attacks on ships in the Red Sea by Houthi rebels in Yemen have not pushed prices above $100 per barrel, which was last seen in September 2022.

Higher interest rates, concerns about demand caused by slower-than-expected economic growth in Europe and China, and increased non-OPEC supply, especially from U.S. shale producers,

US motorists have benefited from lower oil prices. Gasoline prices have been stable recently, averaging $3.56 per gallon last week, a penny lower than a year ago. This is a decrease from the record national average high of $5 per gallon in June 2022.

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Saudi Oil | FT News Image

Oil Producers Led By Saudis Extended Supply Cuts Amid Slack Prices

Gas prices in the United States rise in tandem with crude oil prices because oil accounts for half the cost of a gallon of gasoline. Price swings are substantially lower in Europe since taxes account for a larger share of the cost of fuel.

SOURCE – (AP)

Kiara Grace is a staff writer at VORNews, a reputable online publication. Her writing focuses on technology trends, particularly in the realm of consumer electronics and software. With a keen eye for detail and a knack for breaking down complex topics, Kiara delivers insightful analyses that resonate with tech enthusiasts and casual readers alike. Her articles strike a balance between in-depth coverage and accessibility, making them a go-to resource for anyone seeking to stay informed about the latest innovations shaping our digital world.

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Hurricane Beryl Roars Toward Jamaica After Killing At Least 6 People In The Southeast Caribbean

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KINGSTON, Jamaica — Hurricane Beryl roared toward Jamaica on Wednesday, leaving islanders rushing to prepare after the devastating Category 4 storm killed at least six people and inflicted substantial damage in the southeast Caribbean.

People in Kingston boarded up their windows, fishermen withdrew their boats from the sea, and workers demolished roadside advertising boards to safeguard them from the fierce winds.

Pauline Lynch, a Kingston resident, said she had prepared for the storm by stockpiling food and water. With the wind already whipping up a light rain, Lynch stated, “I have no control over what is coming, so all I can do is pray that all Jamaicans are safe and that there are no deaths or losses.”

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Beryl | AP News Image

Hurricane Beryl Roars Toward Jamaica After Killing At Least 6 People In The Southeast Caribbean

A hurricane warning was issued for Jamaica, Grand Cayman, Little Cayman, and Cayman Brac. Beryl was expected to decrease slightly over the next day or two but remain at or near major hurricane strength when it passes near or over Jamaica on Wednesday, near the Cayman Islands on Thursday, and into Mexico’s Yucatan Peninsula on Friday, according to the National Hurricane Center.

Jamaican Prime Minister Andrew Holness announced that the disaster zone declaration will stay in effect for seven days. He also declared an island-wide curfew from 6 a.m. to 6 p.m. on Wednesday.

Security personnel “will be fully mobilized to maintain public order and aid in disaster relief.” As soon as the cyclone passed, the security forces devised strategic preparations to prevent any potential threat of looting or other opportunistic crimes,” Holness stated.

An evacuation order was also issued for Jamaica villages vulnerable to flooding and landslides. Holness warned Jamaicans to avoid low-lying regions.

A hurricane watch was issued for Haiti’s southern and Yucatan east coast. Belize issued a tropical storm watch extending south from its Mexico border to Belize City.

Late Monday, Beryl became the Atlantic’s first Category 5 hurricane, reaching 165 mph (270 kph) on Tuesday before falling to a still-destructive Category 4. On Wednesday, the storm was approximately 75 miles (125 kilometers) southeast of Kingston. It had maximum sustained winds of 145 mph (230 kph) and was traveling west-northwest at 18 mph (30 kph).

Michael Brennan, Director of the National Hurricane Center in Miami, stated that Jamaica appears in Beryl’s direct path. He asked citizens to locate a secure shelter and stay there until Wednesday.

“We are most concerned about Jamaica, where we are expecting the core of a major hurricane to pass near or over the island,” according to a briefing he gave online.

Jamaica is expected to see a storm surge of 6-9 feet (1.8 to 2.7 meters) over normal tidal levels and severe rains.

On Wednesday, Mexico’s Caribbean coast prepared for Beryl. The government has issued a hurricane warning for the coast of the Yucatan Peninsula, from Puerto Costa Maya to Cancun.

The head of Mexico’s civil defense agency stated that Beryl is expected to launch a rare twin blow on the country. According to Laura Velázquez, the hurricane is forecast to land between late Thursday and early Friday on a rather unpopulated stretch of the Caribbean coast between Tulum and the inland town of Felipe Carrillo Puerto. Because the coast is primarily made up of lagoons and mangroves, there are few resorts or hotels south of Tulum.

As it traverses the Yucatan peninsula, the hurricane is anticipated to diminish to a tropical storm before reemerging as a storm in the Gulf of Mexico over the weekend. According to Velázquez, Beryl is likely to impact Mexican territory again, this time on the Gulf Coast states of Veracruz or Tamaulipas, close to the Texas border.

As Beryl plowed into the Caribbean Sea, rescue personnel in the southeastern islands spread out to assess the extent of the hurricane’s destruction to Carriacou, Grenada.

Officials confirmed three deaths in Grenada and Carriacou, as well as one in Saint Vincent and the Grenadines. Two further deaths were confirmed in northern Venezuela, while five people are missing, officials said. Beryl’s torrential downpour also affected approximately 25,000 people in the area.

beryl

Beryl | AP News Image

Hurricane Beryl Roars Toward Jamaica After Killing At Least 6 People In The Southeast Caribbean

The environment minister, Kerryne James, told The Associated Press that a tree fell on a house in Grenada, killing one. She claimed that Carriacou and Petit Martinique suffered the worst damage, with Carriacou losing hundreds of homes and businesses.

Grenada’s Prime Minister Dickon Mitchell stated on Tuesday that there is no power, roads are impassable, and the possibility of an increase in the death toll “remains a grim reality.”

Saint Vincent and the Grenadines Prime Minister Ralph Gonsalves has pledged to reconstruct the archipelago. He stated that 90% of homes on Union Island had been demolished and that “similar levels of devastation” were expected on the islands of Myreau and Canouan.

The most recent powerful hurricane to reach the southeast Caribbean was Hurricane Ivan, which killed scores of people in Grenada 20 years ago.

Grenada nicknamed the “spice isle,” is a major supplier of nutmeg. Mitchell stated that most of the spices are planted in the northern portion of the island, which Beryl most damaged.

SOURCE – (AP)

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NBC To Use AI Version Of Announcer Al Michaels’ Voice For Olympics Recaps

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NBC is bringing a version of legendary sportscaster Al Michaels back to the Olympics this summer, but with an unexpected twist: his voice will be powered by artificial intelligence.

On Wednesday, NBC said that it will utilize AI software to reproduce Michaels’ voice to offer daily Summer Games summaries to users of its Peacock streaming platform. This marks a significant milestone in the application of AI by a major media firm.

NBC

NBC | CTV Image

NBC To Use AI Version Of Announcer Al Michaels’ Voice For Olympics Recaps

The employment of an artificial intelligence voice for the Olympics comes at a time when technology has advanced dramatically, particularly in its ability to generate images, sounds, and text. This has sparked concerns in creative industries, such as journalism, regarding how artificial intelligence may—or should—be utilized.

A new tool, “Your Daily Olympic Recap on Peacock,” will allow subscribers to create 10-minute highlights packages incorporating event updates, athlete back stories, and other related content based on their preferences.

The company stated that the highlights could be packaged in approximately 7 million distinct ways, based on 5,000 hours of live coverage in Paris, thereby making AI (artificial intelligence, not the guy) a far more efficient way to give individualized summaries.

“When I was approached about this, I was skeptical but obviously curious,” Michaels stated in a press statement. “Then I saw a demonstration of what they had in mind. I replied, ‘I’m in.'”

An NBC representative told CNN that Michaels is being rewarded for his participation.

A veteran broadcaster, Michaels is now the play-by-play sportscaster for Thursday Night Football on Amazon Prime. He is well noted for his work on earlier Olympic Games broadcasts for NBC and ABC and for announcing the Miracle on Ice Game at the 1980 Winter Olympics in Lake Placid, New York.

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NBC | Fox Image

NBC To Use AI Version Of Announcer Al Michaels’ Voice For Olympics Recaps

NBC stated that the AI system was trained using previous NBC broadcast audio from Michaels.

The business stated that a team of NBC Sports editors will evaluate all of the content, including audio and footage, to ensure that it is factually correct and that names are pronounced correctly.

Beginning July 27, the highlights tool will be available on Peacock in web browsers and iOS and iPad apps.

SOURCE – CNN

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Japan’s Mount Fuji Implements Tourist Tax In Response To Overcrowding Concerns

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Mount Fuji, a UNESCO World Heritage site and Japanese icon, has implemented new climbing limits in response to concerns about overpopulation.

Beginning July 1, climbers must pay 2,000 yen ($12.40) per person, and there is a daily limit of 4,000 climbers.

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Mount Fuji | Japan Times

Japan’s Mount Fuji Implements Tourist Tax In Response To Overcrowding Concerns

“By strongly promoting comprehensive safety measures for climbing Mount Fuji, we will ensure that Mount Fuji, a world treasure, is passed down to future generations,” stated Koutaro Nagasaki, governor of Yamanashi Prefecture, when he announced the new laws earlier this year.

“To revitalize traditional mountain climbing from the foot of Mount Fuji, we shall get a thorough grasp of the Fuji-ko and Oshi cultures that fostered Mount Fuji worship. We hope to connect different civilizations through mountain climbing, which is steeped in religious cultural values.”

Fuji-ko is a religion unique to the mountains.

Human traffic bottlenecks, garbage-strewn hillsides, and poorly dressed hikers – some attempting the trip in sandals – are among the challenges afflicting the renowned Japanese destination.

In addition, new guides will oversee trail safety and notify climbers if they violate mountain etiquette, such as sleeping along the trail, making a fire, or wearing inappropriate attire.

According to prefectural data, five million people hiked Mount Fuji in 2019, up three million from 2012.

“Overtourism – and all the subsequent consequences like rubbish, rising CO2 emissions, and reckless hikers – is the biggest problem facing Mount Fuji,” Masatake Izumi, a Yamanashi prefectural government official, told CNN Travel last year.

In 2023, a volunteer named Tomoyo Takahashi told CNN that she planned to ask tourists to donate 1,000 yen ($6.20) to help maintain the mountain.

“Not everyone pays the 1,000 yen, which makes me sad. “There should be a much higher mandatory entrance fee so that only visitors who truly value Mount Fuji’s heritage come,” she stated.

Takahashi will finally achieve her wish.

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Mount Fuji | CNN Image

Japan’s Mount Fuji Implements Tourist Tax In Response To Overcrowding Concerns

The new limitations, however, only apply to Yamanashi prefecture, which has the most popular hiking trails. Fuji is also located in Shizuoka prefecture, which has yet to have any tariffs or visiting restrictions. Governor Nagasaki told reporters that he and Shizuoka’s governor will meet at the end of the climbing season to swap notes.

Overtourism has become a major issue in Japan since the country reopened during the pandemic.

Locals in Kyoto’s historic Gion area have expressed concern over tourists flocking to photograph and sometimes harass the geisha who live and work there, giving them the term “geisha paparazzi.”

While the city has posted signs and boards urging visitors not to photograph geisha, several locals told CNN Travel that more is needed. The neighborhood council proposed issuing fines or penalties.

Hatsukaichi, in Hiroshima Prefecture, southwestern Japan, has also been hit. The little hamlet is notable for its orange “floating shrine” torii gate, part of a 1,400-year-old Shinto complex.

In October 2023, the town started charging 100 yen (62 cents) for visitors to the temple. The “tourist tax” funds the site’s maintenance and infrastructure.

SOURCE – (CNN)

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