My Writings. My Thoughts.

September 2016

// September 12th, 2016 // Comments Off on September 2016 // Daily News

OPEC: The Fed’s next move will impact oil markets

CNBC.com

Central banks such as the U.S. Federal Reserve will be crucial in determining the state of global growth and the overall health of the energy sector, according to the latest monthly report from oil producer group OPEC.
In its latest September report, the 14-member oil producing cartel said that the trend of “moderate” global growth was likely to continue in 2016 and 2017 and that imminent central bank decisions and political developments were likely “to be influential.”
“There are several key dynamics across the globe that are significant (to global growth) in the short-term, OPEC said on Monday before commenting on the effectiveness of central bank stimulus programs.
“Interest rates are already low in major economies and the effectiveness of further monetary stimulus has diminished, despite remaining crucial for some economies. Here, any decision from main central banks on monetary policies, particularly the U.S. Fed, will continue to be influential. Moreover, in most key economies the space for fiscal stimulus seems to be limited given high debt levels.” it said.
The comments come as international financial markets decline on concerns that the Fed is about to raise interest rates when it meets on September 21-22. If it does increase interest rates, the dollar would be bound to strengthen, making oil trades (which is settled in dollars) more expensive for buyers holding other currencies.
That could in turn hamper global demand and consumption at a time when major oil producers, such as OPEC, the U.S. and Russia, are desperate for demand to keep pace with supply.
OPEC said that that the trend of moderating global growth was likely to continue this year but that the energy sector, despite being harmed by lower investment as a result, could help buoy global growth.
“There are several key dynamics across the globe that are significant (to global growth prospects) in the short-term,” OPEC noted. “There is a considerable negative impact on global growth from the energy sector due to the sharp decline in investments, mainly in the oil and gas sector as well as lower output values.”
“So far this has not been entirely compensated by positive effects from consumption. Any stabilization in the crude oil market in coming months could provide positive support to overall economic activity,” OPEC said.
Despite the moderate global growth levels, OPEC remained confident on oil demand growth and stuck to its prediction that oil markets are continuing to rebalance. “Despite moderate global economic growth, recent data shows better-than-expected oil demand in some of the main consuming countries. This, along with a potentially improving oil supply picture, would contribute to a reduction in the imbalance of market fundamentals in the coming months.”
The group warned there was limited scope for governments to stimulate growth. “In most key economies the space for fiscal stimulus seems to be limited given high debt levels. Finally, political developments are becoming increasingly relevant – ranging from elections in several countries to fiscal policy decisions, as well as the implementation and possible impact of Brexit (the U.K.’s decision to leave the EU).”
Despite the backdrop of political and economic uncertainty, OPEC said that it anticipated world oil demand growth in 2016 to increase by 1.23 million barrels a day (mb/d) after a marginal upward revision, mainly to reflect better-than-expected economic data for the first half of the year. Oil demand in 2016 is expected to average 94.27 mb/d, it added.
In 2017, OPEC forecast that world oil demand is anticipated to rise by 1.15 mb/d, unchanged from OPEC’s previous report, to average 95.42 mb/d. The main growth centers for next year continue to be India, China and the U.S., it said.
Demand for OPEC crude in 2016 is estimated to stand at 31.7 mb/d, some 1.7 million barrels a day over last year, the oil producer group said. In 2017, meanwhile, demand for OPEC crude is forecast at 32.5 mb/d, an increase of 0.8 mb/d over the current year.
In terms of supply, OPEC noted that non-OPEC supply in 2016 was expected to contract by 610,000 barrels a day following an upward revision from last month’s report, to average 56.32 mb/d. “This has been mainly due to a lower-than-expected decline in U.S. tight oil and a better-than expected performance in Norway, as well as the early start-up of Kashagan field in Kazakhstan,” it said.

Today’s Inspiration

Happiest When Helping

by Joyce Meyer – posted September 12, 2016

And God is able to bless you abundantly, so that in all things at all times, having all that you need, you will abound in every good work.
— 2 Corinthians 9:8 NIV

A study on the principle of the Golden Rule was conducted by Bernard Rimland, director of the Institute for Child Behavior Research. Each person involved in the study was asked to list 10 people he knew best and to label them as happy or not happy. Then they were to go through the list again and label each one as selfish or unselfish. Rimland found that all the people labeled happy were also labeled unselfish. “The happiest people are those who help others,” he concluded.

God gives us the ability and opportunities to help others all throughout the day. When we take the time to be a blessing, it causes us to focus less on what we don’t have, feel grateful for what we do have, and experience a new level of joy in the process. Don’t let a day go by without helping someone.

Prayer of Thanks: Father, I am thankful that You give me opportunities every day to be a blessing to others. You’ve blessed me with so much. I want to use what You have given me to bless someone else today.

Thursday September 1, 2016

// August 24th, 2016 // Comments Off on Thursday September 1, 2016 // Daily News

Italy earthquake: Army mobilized, dozens buried in Amatrice

NBC NEWS

A 6.2-magnitude earthquake rocked a swath of central Italy early Wednesday, burying residents under rubble as they slept and killing at least 38 people.
The temblor hit at 3:36 a.m. local time near Norcia, 50 miles southeast of Perugia, and was felt more than 100 miles away in Rome. Several large aftershocks followed.
As dawn broke, stunned locals picked through ruins in the worst-affected towns of Amatrice and Accumoli. Italy’s defense ministry mobilized the army to help in the search for survivors.
“There are people under the rubble,” the town’s mayor, Sergio Pirozzi, told state-run broadcaster RAI. “The town isn’t here anymore.”
Aftershocks were still being felt in the town as late as 1 p.m. local time (7 a.m. ET).
Prime Minister Matteo Renzi said Italians “show their best side in difficult moments,” telling reporters: “We must continue to work and to dig through the debris in order to save human lives and give hope to all those involved in the area.”
Italy’s president Sergio Mattarella described the tragedy as a “moment of pain” for the country, while Pope Francis led pilgrims in prayer then tweeted of his “sorrow” about the disaster.
At least 38 people have been confirmed dead — including 17 in Amatrice alone, a spokeswoman for Italy’s civil protection agency told NBC News. Francesca Maffini said at least 11 others were killed in Accumoli and at least 10 in the town of Arquata.
She said residents in Amatrice were “distraught” and that schools were being used as makeshift shelters for the many displaced.

Today’s Inspiration

Don’t Offend God

by Joyce Meyer – posted August 24, 2016

…Work out (cultivate, carry out to the goal, and fully complete) your own salvation with reverence and awe and trembling (self-distrust, with serious caution, tenderness of conscience, watchfulness against temptation, timidly shrinking from whatever might offend God and discredit the name of Christ).
– Philippians 2:12

We can allow the Holy Spirit to invade our lives. We can be so filled with His presence and power that we allow Him into every aspect of who we are and into everything we do. He can get into our thoughts, emotions, and even our wills and bring healing and wholeness to our entire being, but He wants an invitation.

Tell the Holy Spirit you are ready to work with Him to bring what He has done in you by the grace of God to the forefront of your life. “Work it out,” which is the theme of our scripture for today, means that we must learn to live from the Spirit. We need to learn to live inside out. Be cautious not to offend God by giving in to temptation and sin. Learn to live in such a manner that your conscience is entirely clean at all times.

You might be thinking, Joyce, all of this sounds hard and I am not sure I have what it takes. But, I want to assure you that you do have what it takes, because you have the power of the Holy Spirit in your life. You cannot do it in your own strength, but as you partner with God you can do whatever you need to do in life. Don’t settle for a “barely get by” kind of life when there is a life of abundance waiting for you.

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