Thursday October 8, 2015

// October 7th, 2015 // Daily News

Russia-Saudi oil cooperation is ‘hogwash’: Kilduff

CNBC.com
Oil markets rallied this week on a string of bullish headlines and forecasts, but at least one geopolitical catalyst for higher crude prices is sure to fade, Again Capital founding partner John Kilduff said Wednesday.
Kilduff said he doesn’t buy the notion that Russia and Saudi Arabia, which are at “loggerheads” over Syria, will cooperate to cut back production to prop up commodity prices.
“That, to me, is hogwash, and I do think that will come out of this price to a degree rather quickly,” he told CNBC’s “Squawk Box.”
Russia, one of the world’s top three oil producers, said this past weekend it was prepared to meet OPEC and non-OPEC oil producers to discuss the market if such a gathering is called. A separate meeting between Russian and Saudi officials was being planned for the end of October, Russian Energy Minister Alexander Novak has said.
Kilduff noted the Saudis are “incredibly unhappy” with Russia. He said he believed the kingdom could express its displeasure by keeping pressure on oil prices, which would hurt Russia’s critical commodity sector.
“I don’t think Saudi Arabia and Russia right now could agree on whether or not it’s sunny outside,” he said.
Last week, Russia launched its first airstrikes in Syria since the country’s civil war began in 2011.
In remarks at the United Nations in New York last week, Saudi Arabia, a leading foe of President Bashar Assad, demanded his ally Russia end its raids on Syria, saying the strikes had caused civilian casualties while failing to target extremist Islamic State militants that Moscow says it opposes.
Kilduff said the Syrian situation is keeping him up at night because of the prospect of inadvertent contact between Russia and U.S.-backed rebels, bombings of oil infrastructure in neighboring Turkey and damage to key pipelines.

Today’s Inspiration

Staying in Peace

by Joyce Meyer – posted October 07, 2015

So repent (change your mind and purpose); turn around and return [to God], that your sins may be erased (blotted out, wiped clean), that times of refreshing (of recovering from the effects of heat, of reviving with fresh air) may come from the presence of the Lord.
– Acts 3:19

Peace with God is maintained by never attempting to hide sin. Because hiding sin just causes condemnation and guilt, and neither of those are productive in any way. God knows everything anyway, so it is useless to think we can hide anything from Him. When we make mistakes, we shouldn’t withdraw from God, but we should come near to Him, thankful that He promises to restore us.

To repent means to turn away from sin and return to the highest place. God is not surprised by our weaknesses and failures. Actually, He knew about the mistakes we would make before we made them. All we need to do is admit them because He is faithful to forgive us continually from all sin (see 1 John 1:9). God is waiting for you with open and outstretched arms—always run to Him!

Prayer of Thanks: I am grateful, Father, that You forgive my sins and You bring healing and restoration into my life. I choose to reject the condemnation of the enemy and come to You when I sin and fall short. Thank You that You forgive me and love me through it all.

—

Comments are closed.