Oil market likely to rebalance early 2019: OPEC ministers

Oil market likely to rebalance early 2019: OPEC ministersOil ministers from leading OPEC nations said Sunday they expect prices will arrest their recent slide and rebalance early next year, when a deal on new production cuts takes effect. Oil prices have shed more than 36 percent since early October to trade at $54 (47 euros) per barrel, due to fears of oversupply and weak global demand. "Based on available figures, we have around 26 million barrels of surplus ... compared to 340 million barrels in early 2017," Mazrouei told a press conference in Kuwait City.




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